cyber monday

Cyber Monday means big sales but lost worker productivity today
November 26, 2007

By MIKE WENDLAND

Convergence Editor and Technology Columnist

Today is Cyber Monday, the traditional start of the online holiday shopping season, with some experts predicting a 20% hike in online sales this year over last, with total Internet shopping season sales expected to near $25 billion.


For just today, the comScore Media Metrix research firm predicts Cyber Monday sales of $700 million, well over the $608 million for Cyber Monday 2006.


Instead of getting up early for the bargains like so called Black Friday shoppers did at brick and mortar stores the day after Thanksgiving, most Cyber Monday online sales are made during working hours, as cyber shoppers use the fast Internet connections at work to comparison shop and place their orders.

According to a study commissioned by Shop.org, 54.5% of office workers with Internet access ― or 68.5 million people ― will shop at work today, up from 50.7% in 2006 and 44.7% in 2005. A lot of the retail stores like Toys "R" Us and Macy's are hosting one-day only Cyber Monday specials.


All this is a good news, bad news deal, of course. While online business may be good for the economy, it comes at a cost that offsets some of the gains.


The job placement consulting firm of Challenger, Gray & Christmas Inc. of Chicago says employers could lose a total of $488 million in productivity as employees steal time from their jobs to click their way through their holiday shopping list. Cyber Monday
From Wikipedia, the free encyclopedia
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The term Cyber Monday refers to the Monday immediately following Black Friday, the ceremonial kick-off of the holiday online shopping season in the United States between Thanksgiving Day and Christmas. Whereas Black Friday is associated with traditional brick-and-mortar stores, "Cyber Monday" symbolizes a busy day for online retailers. The premise was that consumers would return to their offices after the Black Friday weekend, making purchases online that they were not able to make in stores. The idea has not survived the test of time (see below), however, Cyber Monday has evolved into a significant marketing event, sponsored by the National Retail Federation's Shop.org division, in which online retailers offer low prices and promotions.

Contents
1 Origin of term
2 Accuracy
3 Criticism
4 Website
5 See also
6 References
7 External links



[edit] Origin of term
The term "Cyber Monday" is a neologism invented by Shop.org, part of the U.S. trade association National Retail Federation.[1]. It was first used within the ecommerce community during the 2005 holiday season. According to Scott Silverman, the head of Shop.org, the term was coined based on research showing that 77% of online retailers reported a significant increase in sales on the Monday after Thanksgiving in 2004.[2]


[edit] Accuracy
In late November 2005, ComScore Networks, an e-commerce tracking firm, reported that online spending on Cyber Monday, excluding travel, was $485 million, a 26 percent increase from a year earlier. Total visits to shopping sites increased by 35 percent compared to a year earlier, according to Akamai Technologies.[3] In late 2005, after the holidays, ecommerce sites reported that the busiest shopping days usually were between December 5-15 in a given year.[1] For 2005, the year the term Cyber Monday was coined, the busiest online shopping day of the year in the U.S. was actually December 12, two weeks after "Cyber Monday".[4] Shop.org's survey of its members found that their busiest day in 2005 was December 12.[5] MasterCard's worldwide (not just U.S.) data for 2005 showed that the day with the highest amount of Web transactions processed was December 5.[5] In November 2006, prior to the holidays, MasterCard reported that an online survey it had commissioned found that only 10 percent of Americans said they would shop on the Web on Cyber Monday.[5]


[edit] Criticism
Some critics online and in the media have called for a boycott of the term, calling it a useless media buzzword with no basis. In fact, Fark founder Drew Curtis critically mocks the term in his book It's Not News, It's Fark as a leading example of holiday-based "fluff journalism."[6]


[edit] Website
At the official "Cyber Monday" site, run by Shop.org, more than 500 retailers offered discounts for the 2007 holidays. As a Motley Fool article noted, many of these same deals can be found elsewhere. A percentage of the proceeds of the site benefits the Ray M. Greenly Scholarship Fund, which gives scholarships to students pursuing an education in e-commerce.[7]


[edit] See also