Why Nobody Cares about Cyber Monday

Summary

Cyber Monday, once a unique online shopping event created to complement Black Friday, has lost its distinctiveness in the age of constant digital sales. Originally designed to boost online shopping with exclusive discounts, it now struggles to stand out as every day is filled with similar promotions. The rise of 'saleflation' and the availability of sales year-round has made Cyber Monday just another day of impulsive buying, disconnected from the meaningful experiences that once accompanied in-person shopping. As online shopping becomes routine, Cyber Monday has transformed into a symbol of the overwhelming and often shallow consumer culture in the digital age.

Takeaways

• 😀 Cyber Monday reached an all-time high in sales, surpassing $12 billion, but has become just another sales day without real-world engagement.
• 😀 Despite Cyber Monday's massive revenue, it lacks the excitement and crowd energy of Black Friday, with no physical lines or in-store experience.
• 😀 Cyber Monday was created to tap into the Black Friday frenzy and drive online shopping, offering consumers an alternative to chaotic in-store experiences.
• 😀 The first Cyber Monday, in 2005, marked the rise of online shopping and was a novelty, but has since become diluted as online shopping has become routine.
• 😀 The rise of online shopping during the 2008 recession and the COVID-19 pandemic pushed Cyber Monday sales to new heights, but with unintended consequences.
• 😀 Data collection and privacy concerns have grown alongside the rise of online shopping, with data brokers selling personal information harvested through third-party scripts and cookies.
• 😀 Cyber Monday sales have become less appealing over time, with smaller discounts and an overwhelming number of sales making it harder to find true bargains.
• 😀 Online shopping is driven by algorithms that prioritize discounted items for visibility, often resulting in misleadingly small discounts, a phenomenon known as 'sale flation.'
• 😀 The proliferation of discounting tools like Honey and extended Cyber Monday deals (now spanning multiple days) has diminished the significance of the event.
• 😀 Cyber Monday has evolved into just another sale event in a year-round cycle of discounts, with consumers losing connection to the meaning behind their purchases.
• 😀 The impersonal nature of online shopping means that gifts bought through Cyber Monday often lack the personal connection and meaningful experience associated with in-store shopping.

Q & A

What was the impact of Cyber Monday sales in 2023?

Cyber Monday sales in 2023 reached an all-time high, surpassing $12 billion, which is almost equal to the total revenue of the NBA's 2023-2024 season.

Why does Cyber Monday feel disconnected from people's daily lives?

Cyber Monday lacks the crowds, lineups, and physical connection to our day-to-day lives. It mostly happens online, and for many, it can be easily overlooked unless they are specifically waiting for a particular sale.

What is the relationship between Black Friday and Cyber Monday?

Cyber Monday was created to reduce the chaos of Black Friday by encouraging shoppers to shop online rather than crowding physical stores. It was also developed to capture the sales revenue that in-person stores were receiving during Black Friday.

What is the origin of the term 'Cyber Monday'?

The term 'Cyber Monday' was coined in 2005 by Ellen Davis of the National Retail Federation to promote online shopping on the Monday after Thanksgiving, which followed Black Friday's in-person sales.

How did the 2008 Great Recession influence Cyber Monday?

During the 2008 Great Recession, retailers intentionally offered significant discounts to stimulate consumer spending, and Cyber Monday became a key day for these sales, boosting its popularity.

What role did the COVID-19 pandemic play in the growth of Cyber Monday?

The COVID-19 pandemic accelerated online shopping, forcing many people who were hesitant about e-commerce to shop online. This led to a dramatic increase in Cyber Monday sales during that period.

How has the online shopping experience evolved since the early days of Cyber Monday?

Since its inception, online shopping has become much more common, and the experience has evolved with targeted ads, influencer promotions, and numerous sales events. As a result, Cyber Monday has become just one of many ongoing sales, diminishing its original excitement.

What is the problem with online discounts today?

Online discounts have become less significant over time. Large discounts such as 80-90% off are rare, and the standard 40% discounts are now more like 10-20%. Many sales are more about increasing visibility through algorithms than offering genuine savings.

What is 'sale-flation' and how does it affect Cyber Monday?

Sale-flation refers to the phenomenon where discounts are often just minor reductions to make products appear on sale and increase their visibility in search results, rather than offering real savings to consumers.

How have apps like Honey affected Cyber Monday sales?

Apps like Honey have watered down the significance of Cyber Monday by providing constant discounts on everyday purchases, reducing the urgency and excitement that Cyber Monday once held as a unique shopping event.