What is the history of Cyber Monday?
Much like Black Friday before it, Cyber Monday has emerged as a day for Americans to do their online holiday shopping.
The shopping holiday actually developed somewhat organically. Americans who were fresh from a long weekend that likely included some window shopping and in-store holiday purchases continued to do so when returning to work on Monday.
That Cyber Monday happens on a workday was a natural fit since it allowed office workers to participate in it. The shopping bonanza dates back to the pre-smartphone era and a time when office workers may have had faster internet connections at work than they did at home with their own internet service providers, so it was easier to do their online shopping at the office.
By the mid-2000s, online retailers had noticed that the Monday after Thanksgiving had become one of the busiest online shopping days of the year.
In 2005, the National Retail Federation's Ellen Davis coined the term "Cyber Monday," and the shopping holiday has gained momentum since, embraced by both retail giants, such as Amazon (AMZN -3.89%) and Walmart (NYSE:WMT), and independent shops, such as Shopify (NYSE:SHOP) sellers, as a day to offer discounts and win over holiday shoppers.
How can you take advantage of Cyber Monday?
Cyber Monday exists to offer shoppers one-day savings on online merchandise, so it's a good idea to have a strategy to save and score the best deals.
You'll want to sign up for store newsletters, so you know what's on sale. If there's a particular item that's got your fancy, it's a good idea to use a comparison shopping app like PayPal's (PYPL -3.53%) Honey to find the lowest price available for it. These tools can also let you know about promo codes that help you save even more money.
The ability to use these types of digital tools is one advantage of shopping on Cyber Monday vs. Black Friday since it's harder to comparison-shop in a physical store.
Often, Cyber Monday is a good opportunity to get savings on big-ticket items like electronics and furniture, and you can even find deals on travel like cruises and hotels.
Finally, if you're shopping for the holidays, it's a good idea to come prepared with a shopping list and a budget so you can make sure you meet all your needs without breaking the bank.
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