Today is supposedly the day when retailers offer their best online deals, with office workers feverishly snatching them up in between spreadsheet reviews and PowerPoint presentations.
In 2010, the Monday after Thanksgiving ranked for the first time as the biggest online shopping day of the year, according to market research firm comScore, lending credence to the belief that Cyber Monday is the Internet equivalent of Black Friday.
"I'm a big fan of the online deals during this time of year. No Black Friday crowds," said Falcon, Colo., resident Al Malchow via Twitter. "I'll scour the nets extra hard on Monday (today). "But not everyone is sold on Cyber Monday, a term coined in 2005 by Shop.org, the digital division of the industry trade association National Retail Federation, says Wall Street Journal.
It seems marketing is mostly to blame for Cyber Monday's meteoric rise, however, since low prices don't necessarily go hand in hand with the shopping holiday. A recent article published by Consumer Reports revealed that, once again, mid-December might be the best time to do your holiday shopping. More than a quarter of major electronics, like flat-screen TVs and digital cameras, proved to be at least 5 percent cheaper in the weeks following Thanksgiving weekend.
But if you choose to indulge in online shopping today, be mindful of where you log on. In a recent Career Builder poll, 50 percent of workers said they planned to do online shopping while at work. The catch? Seven percent of human resource managers surveyed said they've fired an employee for the same activity, reports Patch.com.
While the majority of Cyber Monday shoppers will make purchases from their home computer (87.4%, or 107 million people), more people will also shop from work this year (15.9% vs. 12.1% last year). A Shop.org survey released last week estimated that nearly 76 million Americans would shop from work at some point during the holiday season.
In addition, Cyber Monday shoppers said they plan to go online throughout the day, according to the survey. Nearly 47 percent of Cyber Monday shoppers plan to hit the Web early in the morning, with more than one-third of (38.1%) planning to shop in the late morning. Additionally, over one-fourth of Cyber Monday shoppers (28.1%) will shop in the early evening,informs Forbes.