Cyber Monday Is now Cyber Week
December 1, 2014
December 1, 2014
Black Friday has morphed into a weekend-long affair, so it is only natural for online shopping sales to follow suit. In 2005, the National Retail Federation pioneered “Cyber Monday” with hopes of encouraging customers to shop online. The effort was successful, and by 2010, Cyber Monday was the biggest online shopping day of the year.
A survey by FatWallet found that 26 percent of shoppers start their Cyber Monday hunt on Sunday and that an additional 32 percent will continue the search throughout the remainder of the week. Why find deals just for a day, when you can do it all week, right?
Cue the evolution into Cyber Week.
Online shopping has become the norm, and customers are able to find big deals without the chaos of a one-day sale. Retail giants like Amazon and Walmart are fully aware of this and are taking it to the next level.
Online retailer Amazon rolled out the deals on Saturday this year, beating most of the competition to the start line. Amazon plans to keep the deals coming for the next few days, and for the die-hard fans, they’ve promised a new deal every 10 minutes throughout the week. Target is also participating in this year’s Cyber Week with buy one, get one 60 percent off deals through their clothing, shoes and accessories sections. Walmart took a more tech-focused route, offering 50% off televisions, toys and tablets.
Walmart also surveyed customers on their shopping habits and estimated that 1 in 5 shoppers find it difficult to shop during the work day, and would prefer to save their browsing for after work. This being said, the retail leader plans to release new ideas after 5 p.m. for the remainder of the week.
This holiday season, customers and retailers seem to be in constant battle to outsmart each other. It is less about the groundbreaking, price-slashing deal, and more about playing the game right to score the perfectly-timed sale. Retailers are focusing more on convenience. This way, customers have all week to shop around, add items to their virtual cart, and check out on their own time.