Cyber Monday Mania

Today is the big day, Cyber Monday, the day no one even knew existed until Thanksgiving rolled around this year.  Unlike most fabricated holidays, this one was invented not by Hallmark, but instead by National Retail Federation.  The (American) media has been hyping Cyber Monday like crazy.

Network news thrives on speculation and they have filled hours of airtime with the “Cyber Monday Theory” to predict and explain potentially sluggish sales on Black Friday, the traditional kick-off of the Holiday Shopping Season on the Friday After Thanksgiving.

Today, many Americans go back to work after a 4 day weekend ( the only one on the calendar all year), and according to the media, millions will spend their day shopping for bargains online.  With over 8 billion minutes logged on Facebook alone every day, the staggering amount of time people spend online at work is a plausible indication that many people will,  in fact, be sitting behind their desk shopping.  According to the NFR, 88.2 million Americans will shop from home on Cyber Monday while 13.5 percent, or 13 million people, will shop from work.  Cyber Monday was “Invented in 2005″ and while online shopping increases significantly every year, Cyber Monday has yet to break any sales records.

The media could be applauded in their efforts to stimulate the economy, but with the American Tradition of financing holiday spending with Credit Card debt, the applause might be misplaced.  According to the National Retail Federation, unemployment above 10% means that price trumps selection and convenience this holiday season, so people will go out of their way for a bargain.

In the current economy there is less hype about “must have products in limited supply” and without scarcity, people may take their time to see if prices come down closer to Christmas.  One big benefit of online shopping for consumers is the ability to research products as well as prices and not be limited to the offers in their own vicinity.  Better educated consumers are less likely to be running around town chasing “advertised specials” if they can find the same deal on line. The convenience of shopping online and the abundance of free shipping offers, make online shopping a no brainer.

Over 80% of retailers are offering special Cyber Monday deals, so even if you are like me and normally prefer to wait until the last minute to select that perfect Christmas Gift, you might be tempted to check out the sales?  Warning, searching for Cyber Deals can be hazardous!  My orders have already been placed to Illy and Lego too.  I even happened to stumble upon the perfect gift (for myself) while researching this post, my husband was sitting next to me at the time, so he considers himself lucky to click “add to cart” on Amazon instead of searching through the shops for a gift.  Don’t forget, they sell more than books, Amazon also sells Jewelry!  What crazy deals have you found online today?

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