For those who prefer to shop online and don’t want to deal with the chaos on Black Friday, Cyber Monday is the day for you.
Cyber Monday occurs the Monday after Thanksgiving when stores will have online deals for their customers. Although the holiday has evolved since it was created and now many stores have sales the whole week after Thanksgiving, Cyber Monday tends to offer some of the better deals.
Due to online shopping becoming more popular in the past 30 years, the holiday is fairly new compared to Black Friday. Amazon has been the top place for online shopping for many years. In 2023, 37.6% of online shoppers chose Amazon to be their online shopping destination according to Statistica.
In 2005, the term Cyber Monday was coined by Amazon, and the first Cyber Monday occurred that year. However, its popularity didn’t grow until recently.
Many people preferred Black Friday over Cyber Monday. This changed during the COVID-19 pandemic. When the world shut down in 2020 and people couldn’t go to stores to participate in Black Friday, Cyber Monday’s appeal grew to customers.
$9.4 billion was spent on Cyber Monday in 2019. However, the number increased in 2020, making the total spent $10.8 billion, according to Capital One Shopping Research.
In 2023 there was a total of $12.4 billion spent on Cyber Monday beating out Black Friday where there was a total of $9.8 billion spent.
