The Success of Cyber Monday

Dec. 8, 2010 - PRLog -- Andover, Massachusetts December 8th, 2010 –  Cyber Monday, a term that was not even invented until 2005, has now become the largest single shopping day of the year. In fact, initial data suggests that this years Cyber Monday was the first time ever that over a billion dollars worth of merchandise was sold in a single day. These numbers are absolutely stunning when you take into account that the tradition of shopping the Monday after Thanksgiving has only been around for 5 years.

Retailers wanted to create a new shopping holiday in the aftermath of what used to the biggest shopping day of the year, Black Friday. However, as the lines became ever longer and opening times moved up earlier and earlier, more and more consumers were looking for a more stress free and relaxing way to shop. Internet shopping has evolved to the point where almost every major retailer allows you to purchase anything they sell in the store online. Thus, Cyber Monday has become the day when people who were away over the holiday weekend or who didn’t want to shop with the masses on Black Friday could make their super saving purchases in peace. Over 90% of retailers offered some sort of Cyber Monday promotion this year, a nearly 20% jump in the last 3 years.

While Cyber Monday itself will continue to grow and become a larger part of our culture, the simple fact that online shopping in general has blossomed into a huge part of the consumer culture guarantees that any day can potentially become the next Cyber Monday. All it will take is a group of dedicated and smart marketing executives at a large retailer to create a new “shopping” holiday. As this is a personal finance blog, remember, just because it is easy to shop online doesn’t mean it is pain free. Everything you charge to your credit cards will have to be paid off at some point, so be smart and on the lookout for the best bargains before you venture online for your holiday shopping.

Readers, how was your Thanksgiving shopping experience? Did you avoid Black Friday and take advantage of the Cyber Monday deals this year?

Preferred Financial Services is a debt reduction firm certified by the CFC (Center for Financial Certifications) and accredited by U.S.O.B.A. (United States Organizations for Bankruptcy Alternatives). Headquartered in Andover, Massachusetts, Preferred Financial Services has been a leader in the debt reduction industry since 2003. Preferred Financial Services has acquired some of the best experience in the industry over the past 7 years. In 2009 alone Preferred Financial Services reduced over $16.5 million worth of consumer debt for just $6.4 million, for a savings of about 60%- and over 2,900 accounts were settled on behalf of their clients.

For more information, please visit www.pfsdebtrelief.com or follow us on our blog at www.pfsdebtrelief.com/blog/ .

Contact:
Stephan Tavernini
Marketing Coordinator
Certified IAPDA Debt Arbitrator
Preferred Financial Services
stavernini@pfs1.net

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Preferred Financial Services is the leading voice in the debt settlement industry. PFS has worked with hundreds of creditors to help negotiate realistic goals for those drowning credit card debt.