How to Approach Cyber Monday
You might be among the millions who hate Mondays, but Cyber Monday is trying to convince you otherwise. If you aren’t familiar with this sales event, Cyber Monday is a day to encourage shoppers to move their purchases online. It takes place every year the Monday after Thanksgiving. You can think of it as Black Friday’s younger, more successful cousin. This year, Cyber Monday will fall on November 30, though many retail giants have already begun their deals online.
Whether you’re a consumer or business owner, Cyber Monday might be just the thing you hoped for with your wishbone this holiday season.
Why Shop on Cyber Monday?
If you’re a consumer, one of the pros to shopping during Cyber Monday is that it’s an online event. Wherever you have a device connected to the Internet, you’re fully equipped for this national consumer holiday. You won’t have to wake up at 4 a.m. to camp outside of Best Buy (in a tent that you may or may not have bought on Black Friday last year) to buy yet another TV or laptop. Instead, you can enjoy your Thanksgiving pumpkin pie for the fifth day in a row while you shop on your laptop, tablet or smartphone.
This is also a plus for avoiding the obvious: COVID-19. Today is Black Friday, but I hope most people today opted out of shopping in person for the safer online shopping experience. Here’s what to expect for a 2020 Black Friday, anyway.
Cyber Monday may also be the perfect solution to buying your loved ones holiday gifts. Speaking of which, here are some gift ideas from BGR. (Just make sure you make it very clear to the others living in your house not to open packages with your name on them...)
Why Sell on Cyber Monday?
If you’re an online retailer, you should know Cyber Monday is a consistently bigger sales event year after year. According to Kristen McGrath from blackfriday.com referencing Adobe Analytics, Cyber Monday sales have risen from under $4 billion dollars in 2016 to over $9 billion in 2019. This year, sales for Cyber Monday are expected to hit $10 billion, although this increase in sales is expected to be much smaller than the previous years’ increases. This is due to the pandemic’s effect on our economy. Thanks, COVID.
Still, as a business owner, you may want to consider developing a small online promotion to blend in with the times. Businesses should always be thinking of ways to make their products more accessible to their customers. Monday’s right around the corner, so you might want to lay off the egg nog for a couple hours to get the marketing juices flowing.
Try offering an online coupon for 10% off a customer’s entire online order, or discounting individual products that are usually quite expensive.
Overall, though, treat Cyber Monday like you would any other sales event. Don’t spend more than you plan to (and please, plan how much to spend), and buy what you truly need or want. For the big-ticket items, think ahead a couple of years from now, and if you still think you’ll be using it and it’s within budget, by all means, order that gargantuan TV.
And if not, maybe it’s best to relax at home, pull out that pie again, and watch a holiday movie.