Fifth Anniversary of Cyber Monday Shopping
PriceGrabber® survey explores how the holiday has evolved since it began five years ago
LOS ANGELES, Nov. 22, 2010 /PRNewswire/ -- PriceGrabber®, a part of Experian, just released the results of its 2010 Cyber Monday shopping survey, which explores how the Cyber Monday holiday has evolved over the past few years. This survey was conducted between Sept. 14 and Oct. 6, 2010, and includes responses from 1,839 U.S. online consumers planning to spend this holiday season. Survey data reveals that consumers continue to actively shop on Cyber Monday, but the location from which they shop and their motives for shopping have changed over the past few years.
The term "Cyber Monday" was coined in 2005, when traffic-monitoring Websites discovered millions of shoppers were returning to work the Monday after Thanksgiving and purchasing the products they admired over the weekend. Many attribute the original increase in traffic that day to the fact that, at the time, office Internet connections were much faster than the connections in homes. Retailers jumped on this new holiday and began offering lower prices on Cyber Monday in order to entice shoppers and prolong the Black Friday weekend.
Cyber Monday continues to be known for its deals
PriceGrabber's Cyber Monday survey shows that the reputation of Cyber Monday as a popular day for consumers to shop for the best deals is still valid. Thirty-seven percent of all survey respondents included in PriceGrabber's Cyber Monday survey said they plan to shop on Cyber Monday this year. When Thanksgiving weekend shoppers were asked which days during the weekend and the following Monday (Thanksgiving, Nov. 25, through Cyber Monday, Nov. 29) retailers would offer the best deals, 33 percent said Cyber Monday.
Cyber Monday shopping no longer takes place at work
While Cyber Monday remains a popular day for shoppers and offers some of the best deals of the holiday season, the tradition of consumers shopping from work has changed. When shoppers were asked where they plan to do the majority of their Cyber Monday shopping this year, 87 percent stated that they plan to shop from home. The remaining 13 percent plan to do most of their Cyber Monday shopping at work.
"The increased availability of high-speed Internet in homes has significantly contributed to the transition of Cyber Monday shopping from work, to home, said Laura Conrad, president of PriceGrabber. "Additionally, the explosion onto the market of mobile devices with Internet access like smartphones, tablets, and netbooks has freed shoppers from being tied to their desktop or laptop computer when they want to shop online. Consumers are now, more than ever, able to shop online anytime, anywhere."
Cyber Monday shoppers are finishing holiday shopping early
While the availability of high-speed Internet in the workplace was historically believed to be the reason consumers shopped online on Cyber Monday, it appears that this assumption is no longer valid. When PriceGrabber asked Cyber Monday shoppers about their reasons for shopping online on Cyber Monday, only 9 percent indicated that they plan to shop on Cyber Monday because their office Internet connection is faster than their connection at home. The most popular reason for shopping on Cyber Monday, cited by 52 percent of respondents, is readiness to buy after spending Black Friday weekend looking for sales. Forty-three percent of Cyber Monday shoppers said that one of the reasons they shop on Cyber Monday is to finish their holiday shopping early. Twenty-seven percent cited speaking with family and friends about their gift lists over the weekend as a motivation for shopping on Cyber Monday.
To see PriceGrabber's holiday shopping consumer behavior reports, please visit http://www.pricegrabber.com/about.php?about=press&sub_opt=15.
To view all of PriceGrabber's holiday shopping press releases, please visit http://www.pricegrabber.com/about.php?about=press&sub_opt=11&year_opt=12.
About PriceGrabber.com®
PriceGrabber, a part of Experian, is a leading online shopping site with more than 23 million unique shoppers monthly. At PriceGrabber, savvy shoppers can instantly find and compare millions of unique products and services across 25 categories with more than 11,000 merchants. Compare products side by side to find the right retailers at the best prices within popular categories, such as Digital Cameras, Electronics, Computers, Clothing, Books, TVs and more. PriceGrabber provides shoppers with the right product from the right merchant at the best price anytime, anywhere. Visit us at http://www.pricegrabber.com.
About Experian
Experian® is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2010, was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and Sao Paulo, Brazil.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
SOURCE PriceGrabber.com
Share this article