Cyber Monday sales growth lags

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Courtesy of Amazon

The beginning of the holidays. Filled with festivities, merriment, and… web surfing?

Yes, Cyber Monday is the consumer industry’s attempt to entice buyers across the country (and, increasingly, the globe) annually as retailers slash prices. Cyber Monday sales grew by 8.5% over the same day in 2013, according to IBM Digital Analytics Benchmark.

The term was coined by a trade group, the National Retail Foundation (NRF), in a 2005 press release.

“While traditional retailers will be monitoring store traffic and sales on Black Friday, online retailers have set their sights on something different: Cyber Monday, the Monday after Thanksgiving, which is quickly becoming one of the biggest online shopping days of the year,” the group declared. “For the past few years, online retailers have found that sales on the Monday after Thanksgiving have been creeping higher, giving retailers an additional reason to be jolly during the ceremonial kickoff to the holiday season.”

Five years later in 2010, Cyber Monday became the biggest national online shopping day, the Associated Press reported. According to NPR, Cyber Monday hit a record of $2 billion in sales last year, up nearly 20 percent over the same time in 2012.

Apple and Google have attempted to capitalize on impulse buying with smartphone services such as Pay and Wallet respectively, which allow for purchases at stores with the touch of a finger. Mobile sales accounted for 22% of all Cyber Monday sales, the Associated Press said.

Amazon, Target & Walmart, among many others, have even extended the occasion, promoting a “Cyber Monday Week”. Amazon has been offering deals since Nov. 21.

Some compelling Cyber Monday tech deals on Amazon.com included an unlocked Fire Phone for $199, down from $649, and an LG 49-inch 4K TV for $999, down from $1599. Clothing stores such as Macy’s and Gap had clearance sales of up to 40 percent.

To compete with online retailers, brick-and-mortars have introduced discounts once reserved for Cyber Monday in advance, such as free shipping. Walmart said it received the most online orders in history in a single-day period. Their top sellers yesterday in electronics included Apple’s iPad mini tablet and Sony’s PlayStation gaming console.

On campus, attitudes ranged from indifference to elation at the prospect of deals. Sophomore Sarisha Kurup views the day as more hype than reality.

“America has a huge consumerism problem, and I think Black Friday and Cyber Monday are only pushing that problem further toward the edge,” she said.

Abhinav Ketineni (11) projected his general disinterest for Cyber Monday, but conceded that the discounts are sometimes tempting.

“I’ve never been particularly invested in the idea of a big shopping day,” he said. “Admittedly, every now and then I do peruse the deals online.”

2014 is the first year that the rate of growth of Cyber Monday sales declined.