Everyone knows about Black Friday. With its midnight madness and jaw-dropping promotions, Black Friday became a can’t-miss event! For decades, it was the day for shoppers to find the best deals of the Christmas shopping season. But then, just as it’s done with virtually everything else in our lives, the Internet changed the face of holiday shopping.
While Black Friday has long been considered the official start of the Christmas shopping season, retailers began to notice a curious trend in the early 2000s. On the Monday following Black Friday, there seemed to be a spike in online purchases—mainly between the hours of 8am-5pm. While it seemed odd at first, the trend was relatively simple to figure out.
As more and more companies shifted their business practices online during the Dot-Com Boom, employees needed Internet access. And even though participating in e-commerce may have violated more than a few corporate Internet usage policies, employees faced the irresistible convenience of shopping online. After the trend continued for several years, the term “Cyber Monday” was coined in 2005, and the online version of Black Friday became a holiday fixture.
In 2017, online consumers spent more than $6.5 billion on Cyber Monday, which was a 16.8% jump from the year before. As mobile technology continues to improve and make digital transactions easier, it’s safe to assume Cyber Monday’s popularity (and profitability) will only increase. That means whether you’re shopping from home, your smartphone, or your workplace (don’t worry, we won’t tell), there will be millions of other virtual shoppers searching for holiday bargains along with you. Luckily, you still have time to prepare your digital shopping strategy.
To make your Cyber Monday shopping experience as smooth and rewarding as possible, be sure to follow these practical tips:
Whether you do your holiday shopping on Cyber Monday, Black Friday, or random days throughout the year, a Holiday Club Account with us gives you a smart way to pay for your purchases. When you open one of these specialized accounts, you can set aside money all year long, earn interest on your savings, and gain access to your funds just in time for the winter holiday season. Ask us for more information today!
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