Shop Strategically on Cyber Monday

By Chris Dato  •  November 30, 2014

By this point in the weekend, you have likely already established yourself as a savings savage. You tactfully took advantage of stores that started their sales on Wednesday night, skipped the seconds at Thanksgiving dinner to take advantage of preview deals, and even rose with the sun the next morning to hit the places that still start their Black Friday deals on Friday. (I know; where do they get the nerve?) You are probably spent after all that saving, and understandably so, but don’t extinguish your fire for frugality just yet. Cyber Monday is just around the corner, and it is the perfect opportunity to find the deals you need to finish checking off the names on your Christmas list. Especially with how hectic gift hunting can get, don’t you think you deserve to do the rest of your saving from the convenience of your couch?

 

Cyber Monday has been wildly successful in generating retail spending since its introduction in 2005. You can find a little more information about the history of this holiday, as well as some lesser-known retail holidays, in previous articles. Just last year, Cyber Monday reached record marks in desktop retail sales, reaching $1.735 billion according to comscore.com. In addition to representing an 18% increase in sales from the previous year, this jump secured Cyber Monday the title of heaviest US online spending day in history. It also made it the second day of the season to see over 1$ billion in online sales, surpassing Black Friday’s total of $1.198 billion. Looking at the sales figures from last year reveals another interesting trend. The total revenue generated by online sales last year from Thanksgiving through Cyber Monday was $5.3 billion, representing a 22% increase. The dramatically improved sales the entire holiday weekend saw compared to the previous year are credited to many retailers starting their sales earlier. All of these numbers add up to a substantial saving opportunity for you this Monday, without even requiring you to leave your house.

 

Because of its continued growth and success, we can expect to see even more deals this Monday than ever before. As always, the key to taking full advantage of these deals is strategy. With all of the weekend’s leg work finished, it is time to revisit your Christmas lists and take stock of the gifts of which you are still in need. Your list is going to be a vital survival tool while you are wading through the sea of Internet sales.

 

 

The best items to look for on Cyber Monday are ones with which you are already very familiar, or that don’t require a lot of consideration at the point of purchase. Personal electronics such as smart phones, tablets, e-readers and laptops fall into this category because they are easy to remotely research and do not need to be handled or tried on before purchase. Although the cyber in Cyber Monday refers to the online nature of the sales, electronics are consistently among the most heavily discounted category of items. 

 

A good way to think of it is that Cyber Monday is better suited for seeking deals than exploring them. The retail holiday presents the perfect opportunity to find the best prices of the year on the gifts you have been planning for months. Use your Christmas list as a trip tick, and remember not to be too quick to pull the trigger. Just because you are wrapped in a fleece blanket in from of your television doesn’t mean you shouldn’t do a little shopping around. You are also bound to come across items or deals that will divert your attention as you shop, which is not a bad thing. Of course, if you spot a price that is too good to pass up, do not be afraid to pounce on it just because it is not on your list.

 

With your laptop, gift list, and credit card firmly secured to your yuletide utility belt, you are set to make the most of this cap to the kickoff of Christmas shopping.

 

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Chris Dato Chris Dato A Southern California kid born and raised, Chris is happiest with sunglasses on his face and sand under his back. Although a self-proclaimed master money saver, he prefers the term 'responsibly frugal' to 'cheap.'


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