If you're a big holiday shopper, you're probably a fan of Cyber Monday.
The annual shopping holiday brought in an estimated $38 billion in sales in 2023, and is now the biggest online sales day of the year, and extends for even a full week.
Keep reading to learn more about Cyber Monday, its origins, and how you can take advantage of Cyber Monday deals.
When is Cyber Monday?
Cyber Monday traditionally takes place the Monday after Thanksgiving. It's part of a five-day holiday weekend that kicks off the holiday shopping season.
Black Friday, the day after Thanksgiving, is typically the busiest shopping day of the year, and other "shopping holidays" have emerged to fill out the weekend.
The Saturday of that weekend, for example, is now known as Small Business Saturday, encouraging consumers to support small businesses, and the day after Cyber Monday is called Giving Tuesday to promote donations to non-profits.
What Cyber Monday looks like at one major retailer
It shouldn't come as a surprise that Amazon is a major participant in Cyber Monday. The e-commerce giant already owns roughly 40% of online sales in the U.S., and it's clearly a believer in the shopping holiday strategy -- it's even invented its own shopping holiday, Prime Day.
Cyber Monday is now a three-day event at Amazon, from Saturday to Monday. Among the deals Amazon offered last Cyber Monday were 70% off Alexa-enabled devices, 60% off Ring home security devices, discounts of as much as 50% on Gap merchandise, and 40% off on Mr. Coffee coffeemakers.
Cyber Monday results are a good barometer for the overall economy since consumers are shopping almost entirely for discretionary items. Keep your eye on Cyber Monday results this year. A strong performance could be a sign that a new bull market is coming soon if one hasn't started already.
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