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Cyber Monday is coming up! Have you made your shopping plans yet? Read on with Cashfloat to gain an insight on Cyber Monday and how it can help you with your shopping.
Cyber Monday is the day when retailers all over the world slash their prices in their online stores. The term is used to refer to the first Monday after the Thanksgiving holidays in the US that fall on the fourth Thursday in November. It was a clever marketing strategy thought up by Ellen Davis and Scott Silverman to encourage more people to do their shopping online. The first Cyber Monday was on 28th November 2005, and since then this worldwide internet shopping day has grown and becomes more popular every year.
Cyber Monday always comes after the Black Friday event the day after the American Thanksgiving holiday. This year the event will fall on November 27th but many online retailers will start putting their sale items online over the weekend and will finish the big event on Monday. Other retailers just hold a 24-hour sale with incredible bargains to be snapped up. It is a very important day for online retailers who pack their sites with irresistible bargains to tempt shoppers to take part in one of the biggest internet shopping days of the year. Many people who can not afford to buy all these bargins, end up taking cheap personal loans with low interest rates to fund their shopping.
Black Friday falls on the day after the American Thanksgiving holiday in the run-up before Christmas. It is a 24-hour shopping event in which retailers hold mega sales in the hope of attracting shoppers to spend their money before the holidays. The day earned its name as many shops move into the black after this event and cover their costs.
Shops will advertise discounted items before the event. Some people choose to queue outside the shop to make sure that they can get their hands on their favoured items, even if they have to get wage day advance loans to fund their purchases. There are often reports of violence as frenzied shoppers batter each other to get the bargains for themselves. Black Friday is famous for having electronic, and household items at unbelievable prices whereas Cyber Monday tends to be more focused on fashion. In all honesty, these events have almost merged to create a whole weekend long shopping bonanza.
So what have we learned so far?
Retailers are eagerly awaiting these sales and are making their offers known even earlier to give people time to get ready for the big event by comparing prices on other websites. Retail giant Amazon has announced that they will be releasing shopping deals on November 17th, a week before the event.
It is a good time to save substantial amounts on big-ticket items such as computers and tablets. You should not expect to see massive discounts on the latest Apple and Samsung technology, but they will reduce their older models. Not all of the big retailers such as Next, Ikea, Homebase and Asda take part. M&S and Selfridges held unofficial weekend Christmas sales instead.
Between Black Friday and Cyber Monday, a staggering £5.8 billion was spent by bargain-hungry UK consumers. VoucherCodes.co.uk and the Centre for Retail Research report that that figure is up 15% on the year before. The data showed a trend towards online shopping with a 20% increase on the year before with consumers spending £2.8 billion. Experts estimate that people spent £1.27 billion in the 24 hours on Black Friday alone.
Follow our steps to getting the best out of your bounty weekend shopping spree!
Before you even contemplate having a look at what is on offer make a budget. It can be very easy to get carried away and buy things for the sake of it. You may be tempted to buy heavily discounted items that you cannot afford. Be strong and don’t get yourself into debt. Shop only what you can afford withour requiring same day loans.
If you know what you are looking for, then you can find it before the sales start and compare prices to secure the best deal for yourself. Use what you can afford and don’t be tempted to overspend or to take out a wonga loan.
Paying with a credit card can afford you some protection in case things do not go to plan. Shopping with a credit card is a great idea as long as you have the money to clear the card.
Under the Consumer Rights Act, the goods that you purchase should be a satisfactory quality. They should fit to do the job intended and last a reasonable amount of time. From the date of your purchase, you have 30 days to act if you do not feel you got a fair deal.
Cyber Monday started as a clever marketing strategy to encourage more people to shop online. It has gained in popularity and found its way to Britain from the US. The event has merged with Black Friday when the shops have fantastic sales that can you can also visit online. Nowadays it is a big weekend sale from Black Friday to Cyber Monday.
It is important to bear in mind that many supermarkets have special offers during the run-up to Christmas and reward their customers with extra loyalty points to spend on their cards. Make sure that you are getting a bargain, as sometimes these great reductions are not all that they are made out to be.