1 00:00:04,400 --> 00:00:07,800 Speaker 1: Welcome to tech Stuff, a production from I Heart Radio. 2 00:00:12,160 --> 00:00:14,720 Speaker 1: Hey there, and welcome to tech Stuff. I'm your host, 3 00:00:14,840 --> 00:00:17,720 Speaker 1: Jonathan Strickland. I'm an executive producer with I Heart Radio 4 00:00:17,760 --> 00:00:19,880 Speaker 1: and I love all things tech. And here in the 5 00:00:19,960 --> 00:00:23,480 Speaker 1: United States it is Thanksgiving, which means we here at 6 00:00:23,520 --> 00:00:27,319 Speaker 1: tech Stuff are currently on holiday. I don't know about Torii, 7 00:00:27,720 --> 00:00:29,880 Speaker 1: but my guess is by the time you're listening to this, 8 00:00:30,000 --> 00:00:34,280 Speaker 1: I am stuffing my face with festive foods and uh. 9 00:00:34,560 --> 00:00:36,879 Speaker 1: Because I don't want to leave you without an episode, 10 00:00:36,920 --> 00:00:39,520 Speaker 1: I thought we would rerun an episode from a couple 11 00:00:39,520 --> 00:00:41,120 Speaker 1: of years ago. I think this is going to be 12 00:00:41,159 --> 00:00:45,560 Speaker 1: an annual tradition about the history of Cyber Monday, because 13 00:00:45,600 --> 00:00:48,919 Speaker 1: here in the US, the day after Thanksgiving is typically 14 00:00:48,920 --> 00:00:53,840 Speaker 1: called Black Friday. That is a day when stores are 15 00:00:53,920 --> 00:00:57,320 Speaker 1: offering tons of different sales in order to attract people 16 00:00:57,400 --> 00:01:01,320 Speaker 1: to come in and buy tons of stuff. It's timed 17 00:01:01,480 --> 00:01:03,400 Speaker 1: so that you know it's it's right at the beginning 18 00:01:03,480 --> 00:01:06,240 Speaker 1: of the holiday shopping season, so people are trying to 19 00:01:06,280 --> 00:01:09,520 Speaker 1: get their gifts all in order for their loved ones. 20 00:01:10,080 --> 00:01:13,680 Speaker 1: But Cyber Monday grew out a few well many years 21 00:01:13,760 --> 00:01:19,080 Speaker 1: later down the road, and this episode goes into its history. 22 00:01:19,160 --> 00:01:23,199 Speaker 1: So I hope you enjoy this episode about cyber Monday, 23 00:01:23,319 --> 00:01:26,400 Speaker 1: and you know to keep a lookout for deals because 24 00:01:27,080 --> 00:01:29,720 Speaker 1: they do pop up around this time of year. And 25 00:01:29,800 --> 00:01:32,200 Speaker 1: I'll be back to talk with you again in a 26 00:01:32,240 --> 00:01:36,920 Speaker 1: little bit today. I thought i'd changed things up a 27 00:01:36,920 --> 00:01:41,200 Speaker 1: bit and talk about the history and evolution of cyber Monday. 28 00:01:41,200 --> 00:01:45,120 Speaker 1: So where did this come from? And are the deals 29 00:01:45,120 --> 00:01:48,240 Speaker 1: on cyber Monday really great? And I guess the answer 30 00:01:48,240 --> 00:01:52,000 Speaker 1: to that second question is essentially, uh, it depends. But 31 00:01:52,200 --> 00:01:55,760 Speaker 1: first let's talk about some history. So before there was 32 00:01:55,800 --> 00:01:59,960 Speaker 1: cyber Monday, there was Black Friday, both in the sense 33 00:02:00,040 --> 00:02:03,200 Speaker 1: that Black Friday is a thing is older than Cyber Monday, 34 00:02:03,280 --> 00:02:07,040 Speaker 1: and also cyber Monday is the Monday that follows Black Friday, 35 00:02:07,080 --> 00:02:10,840 Speaker 1: so technically it's true in two different senses. All right, 36 00:02:10,880 --> 00:02:13,120 Speaker 1: So what is Black Friday? One of the United States, 37 00:02:13,480 --> 00:02:17,520 Speaker 1: Black Friday is the friday following Thanksgiving. Thanksgiving in the 38 00:02:17,600 --> 00:02:21,360 Speaker 1: United States falls on the fourth Thursday of November, at 39 00:02:21,440 --> 00:02:24,880 Speaker 1: least it has ever since nineteen thirty nine, when Franklin 40 00:02:24,960 --> 00:02:28,240 Speaker 1: Delano Roosevelt moved the holiday up a week from the 41 00:02:28,280 --> 00:02:32,360 Speaker 1: final Thursday of November. Now, since November two thousand eighteen 42 00:02:32,480 --> 00:02:36,240 Speaker 1: started on a Thursday. November one was a Thursday. That 43 00:02:36,320 --> 00:02:39,560 Speaker 1: means that two thousand eighteen will see Thanksgiving fall as 44 00:02:39,639 --> 00:02:44,120 Speaker 1: early as it can, which means November two. The latest 45 00:02:44,240 --> 00:02:48,200 Speaker 1: it can fall in the month is November. Anyway, Black 46 00:02:48,240 --> 00:02:51,919 Speaker 1: Friday is the day after Thanksgiving in the United States. Now, 47 00:02:52,880 --> 00:02:56,760 Speaker 1: there is an apocryphal story that says the origins of 48 00:02:56,800 --> 00:03:00,680 Speaker 1: Black Friday are deeply racist and tie to the United 49 00:03:00,680 --> 00:03:05,560 Speaker 1: States history with slavery. According to that story, slave traders 50 00:03:05,560 --> 00:03:08,680 Speaker 1: would sell slaves at a discount on the day after 51 00:03:08,840 --> 00:03:12,239 Speaker 1: Thanksgiving to help plantation owners who are going to want 52 00:03:12,280 --> 00:03:15,200 Speaker 1: to purchase more slaves to do work leading up to 53 00:03:15,240 --> 00:03:20,600 Speaker 1: the winter. That's a horrible, horrible thing. But the story 54 00:03:20,760 --> 00:03:24,560 Speaker 1: isn't true at all. And honestly, I find it hard 55 00:03:24,600 --> 00:03:27,920 Speaker 1: to believe that slave traders would respond to an increase 56 00:03:27,960 --> 00:03:32,800 Speaker 1: in demand by lowering their prices. They already seem like terrible, 57 00:03:32,919 --> 00:03:35,200 Speaker 1: terrible human beings. I don't think of them as being 58 00:03:35,240 --> 00:03:40,760 Speaker 1: particularly altruistic. However, we can put that whole explanation aside. Anyway, 59 00:03:40,800 --> 00:03:44,440 Speaker 1: If anyone tells you Black Friday is based in slavery, 60 00:03:44,440 --> 00:03:47,800 Speaker 1: that is not true. The term Black Friday in relation 61 00:03:47,840 --> 00:03:50,960 Speaker 1: to the day after Thanksgiving did not appear in print 62 00:03:51,480 --> 00:03:54,960 Speaker 1: until the nineteen fifties. As far as we can determine. 63 00:03:55,280 --> 00:03:59,280 Speaker 1: There was, however, an earlier version of Black Friday, though 64 00:03:59,440 --> 00:04:03,600 Speaker 1: that was the day after Thanksgiving. That Black Friday wasn't 65 00:04:03,600 --> 00:04:05,920 Speaker 1: associated with a holiday at all, but rather with a 66 00:04:05,960 --> 00:04:11,120 Speaker 1: stock market crash that happened on Friday, September twenty, eighteen 67 00:04:11,280 --> 00:04:14,800 Speaker 1: sixty nine. The cause of that crash was that there 68 00:04:14,800 --> 00:04:19,880 Speaker 1: were two speculators named Jay Gould and James Fisk, and 69 00:04:19,960 --> 00:04:24,400 Speaker 1: together they were able to drive up gold prices way 70 00:04:24,480 --> 00:04:26,720 Speaker 1: way up while they were trying to corner the market 71 00:04:27,120 --> 00:04:30,760 Speaker 1: on gold on the New York Gold Exchange. They had 72 00:04:30,800 --> 00:04:35,240 Speaker 1: even planted a story to convince US President Ulysses S. 73 00:04:35,320 --> 00:04:40,120 Speaker 1: Grant to stop gold sales. They had this report that 74 00:04:40,200 --> 00:04:44,200 Speaker 1: it was going to hurt farmers out west. Meanwhile, they 75 00:04:44,240 --> 00:04:47,040 Speaker 1: bought up as much gold as they could and that 76 00:04:47,240 --> 00:04:49,760 Speaker 1: raised gold prices as a result. So they thought they 77 00:04:49,760 --> 00:04:51,880 Speaker 1: were gonna be rich. They're gonna buy up the gold 78 00:04:51,920 --> 00:04:55,880 Speaker 1: and then they could sell it off at these elevated prices. However, 79 00:04:55,960 --> 00:04:58,599 Speaker 1: President Grant found out about it, and he ordered the 80 00:04:58,640 --> 00:05:01,640 Speaker 1: release of millie ends of dollars of gold to be 81 00:05:01,720 --> 00:05:05,919 Speaker 1: made available on the market, and that caused prices to crash. 82 00:05:06,080 --> 00:05:10,040 Speaker 1: Suddenly there was way more supply, and this crash ended 83 00:05:10,120 --> 00:05:13,760 Speaker 1: up affecting the stock market as well. However, this was 84 00:05:13,800 --> 00:05:17,440 Speaker 1: a moment of acute pain. It was a sharp depth 85 00:05:17,839 --> 00:05:21,520 Speaker 1: in the stock market, thus the name Black Friday, but 86 00:05:21,760 --> 00:05:24,320 Speaker 1: in the long termment that the nation was actually able 87 00:05:24,360 --> 00:05:28,240 Speaker 1: to avoid a more persistent depression, so it ended up 88 00:05:28,240 --> 00:05:31,600 Speaker 1: turning out better than it otherwise would have. The earliest 89 00:05:31,640 --> 00:05:34,839 Speaker 1: known reference to the day after thanks Giving being Black 90 00:05:34,880 --> 00:05:39,640 Speaker 1: Friday dates to nineteen fifty one from a periodical titled 91 00:05:40,080 --> 00:05:45,159 Speaker 1: Factory Management and Maintenance. But it was a real page turner. 92 00:05:45,760 --> 00:05:49,800 Speaker 1: But in that article, the author was describing this tendency 93 00:05:49,839 --> 00:05:53,839 Speaker 1: for workers to call in sick the day after Thanksgiving, 94 00:05:54,400 --> 00:05:56,479 Speaker 1: and really they were just trying to make a long 95 00:05:56,560 --> 00:06:00,040 Speaker 1: weekend out of the holiday because at that time it 96 00:06:00,080 --> 00:06:03,599 Speaker 1: is not commonplace for most businesses to close down on 97 00:06:03,640 --> 00:06:08,440 Speaker 1: both Thursday, the day of Thanksgiving, and Friday. So this 98 00:06:08,480 --> 00:06:13,159 Speaker 1: piece was sort of sardonically comparing the malaise being felt 99 00:06:13,200 --> 00:06:16,880 Speaker 1: by workers across the nation to the bubonic plague also 100 00:06:16,960 --> 00:06:20,640 Speaker 1: known as the Black Death everyone would just mysteriously be 101 00:06:21,279 --> 00:06:25,080 Speaker 1: sick that Friday and not show up to work. It 102 00:06:25,120 --> 00:06:28,080 Speaker 1: would take another decade before we would see the name 103 00:06:28,160 --> 00:06:32,839 Speaker 1: Black Friday associated with shopping for the day after Thanksgiving. 104 00:06:33,400 --> 00:06:37,320 Speaker 1: This would come out of Philadelphia, Pennsylvania. The local police 105 00:06:37,320 --> 00:06:41,040 Speaker 1: force there would refer to that Friday and that Saturday 106 00:06:41,240 --> 00:06:44,960 Speaker 1: following Thanksgiving US both Black Friday and Black Saturday. This 107 00:06:45,040 --> 00:06:48,480 Speaker 1: was because those two days had become the busiest shopping 108 00:06:48,560 --> 00:06:52,400 Speaker 1: days of the year. Thanksgiving leads into the holiday season, 109 00:06:52,920 --> 00:06:56,440 Speaker 1: and in post World War two America, the holiday season 110 00:06:56,960 --> 00:07:00,240 Speaker 1: was beginning to be associated and has been said, ends 111 00:07:00,640 --> 00:07:04,679 Speaker 1: with lots of material gifts. Consumerism was on the rise. 112 00:07:04,960 --> 00:07:07,719 Speaker 1: A lot of people had a lot more discretionary income 113 00:07:08,440 --> 00:07:11,320 Speaker 1: and a desire to spend it. So the police referred 114 00:07:11,360 --> 00:07:14,920 Speaker 1: to Friday and Saturday as Black Friday and Black Saturday 115 00:07:15,040 --> 00:07:18,200 Speaker 1: because of the headaches that came along with all that 116 00:07:18,320 --> 00:07:21,880 Speaker 1: busy shopping, mostly in the form of stuff like traffic 117 00:07:21,920 --> 00:07:26,200 Speaker 1: problems and shoplifting. Plus the fact that this rise in 118 00:07:26,320 --> 00:07:30,000 Speaker 1: activity meant it was virtually impossible to get the day 119 00:07:30,040 --> 00:07:32,840 Speaker 1: off if you were a Philadelphia cop, and you would 120 00:07:32,880 --> 00:07:35,920 Speaker 1: probably have to put in an extra long shift to boot, 121 00:07:36,520 --> 00:07:40,040 Speaker 1: so they didn't really like it. Now, in the nineteen eighties, 122 00:07:40,520 --> 00:07:44,560 Speaker 1: a new version of the history of Black Friday popped up, 123 00:07:45,000 --> 00:07:48,800 Speaker 1: and this version claimed that the name Black Friday stemmed 124 00:07:48,800 --> 00:07:51,960 Speaker 1: from the fact that it was on that day that 125 00:07:52,000 --> 00:07:56,160 Speaker 1: many merchants would finally see their annual figures show a profit. 126 00:07:56,600 --> 00:08:00,440 Speaker 1: The idea was that the enormous amount of business on 127 00:08:00,520 --> 00:08:04,040 Speaker 1: that Friday would take businesses from operating at a loss 128 00:08:04,400 --> 00:08:07,760 Speaker 1: or operating in the red in other words, and push 129 00:08:07,880 --> 00:08:12,840 Speaker 1: them toward profitability or operating in the black. Thus black Friday. 130 00:08:12,960 --> 00:08:15,680 Speaker 1: Now that refers to the practice of denoting losses or 131 00:08:15,800 --> 00:08:19,920 Speaker 1: negative numbers in a ledger using red ink and positive 132 00:08:20,000 --> 00:08:23,840 Speaker 1: numbers using black ink. And while that's a cute story, 133 00:08:24,000 --> 00:08:28,280 Speaker 1: it's not, you know, real. In fact, a lot of 134 00:08:28,320 --> 00:08:32,360 Speaker 1: stores see more sales on the Saturday before Christmas because 135 00:08:32,440 --> 00:08:39,080 Speaker 1: lots of Americans are procrastinators. But this fictional history of 136 00:08:39,160 --> 00:08:42,760 Speaker 1: the origin of Black Friday took hold in the American psyche, 137 00:08:43,040 --> 00:08:46,240 Speaker 1: and to go along with it, stores began holding big 138 00:08:46,360 --> 00:08:50,320 Speaker 1: sales to bring more and more shoppers into their stores. 139 00:08:50,800 --> 00:08:53,959 Speaker 1: And this strategy worked, and every year we would see 140 00:08:54,360 --> 00:08:57,320 Speaker 1: more efforts to make it even bigger, with stuff like 141 00:08:57,440 --> 00:09:02,079 Speaker 1: door buster offers, so called because those sales offer seemingly 142 00:09:02,240 --> 00:09:07,079 Speaker 1: huge discounts right at opening hours and are typically those 143 00:09:07,559 --> 00:09:11,800 Speaker 1: those figures, those those amounts, those discounts are only available 144 00:09:11,920 --> 00:09:15,160 Speaker 1: for a very short time, or the inventory for those 145 00:09:15,200 --> 00:09:17,960 Speaker 1: products is so small that the store will no doubt 146 00:09:18,080 --> 00:09:21,920 Speaker 1: sell out within minutes of opening, or both in many cases. 147 00:09:22,480 --> 00:09:25,680 Speaker 1: So often these sales are tied to an effort to 148 00:09:25,760 --> 00:09:29,240 Speaker 1: move older merchandise out of stores to make way for 149 00:09:29,320 --> 00:09:33,320 Speaker 1: newer products. So stuff like electronics, particularly big ticket items 150 00:09:33,360 --> 00:09:37,439 Speaker 1: like televisions or small appliances, tend to take up some space, 151 00:09:37,760 --> 00:09:40,960 Speaker 1: and manufacturers want to come out with new models every year, 152 00:09:41,480 --> 00:09:46,080 Speaker 1: and according to uh Adam Burakowski of Wirecutter, large appliances 153 00:09:46,720 --> 00:09:50,319 Speaker 1: are kind of a an exception. You rarely see big, 154 00:09:50,360 --> 00:09:54,439 Speaker 1: significant markdowns on large appliances, but small appliances and televisions, 155 00:09:54,480 --> 00:09:57,440 Speaker 1: which can get pretty darn big these days, they can 156 00:09:57,480 --> 00:10:00,240 Speaker 1: get marked off quite a bit, and most lee in 157 00:10:00,320 --> 00:10:03,360 Speaker 1: order to make room for new models. Black Friday opened 158 00:10:03,400 --> 00:10:06,480 Speaker 1: up a chance for stores to offload older stuff, perhaps 159 00:10:06,480 --> 00:10:09,959 Speaker 1: at a discount, after sales had slowed down considerably, so 160 00:10:10,480 --> 00:10:13,400 Speaker 1: by the nineteen eighties, Black Friday was established as the 161 00:10:13,480 --> 00:10:17,280 Speaker 1: formal beginning of the holiday shopping season, and while some 162 00:10:17,400 --> 00:10:22,640 Speaker 1: online service providers like compu Serve would introduce online shopping 163 00:10:22,640 --> 00:10:26,760 Speaker 1: in the nineteen eighties, it was a far distant second 164 00:10:27,040 --> 00:10:30,840 Speaker 1: to shopping in physical stores. It had barely registered. It 165 00:10:31,000 --> 00:10:35,560 Speaker 1: really wasn't until the mid nineteen nineties when Netscape one 166 00:10:35,640 --> 00:10:40,600 Speaker 1: point oh incorporated the Secure Socket Layer Protocol the SSL protocol. 167 00:10:41,480 --> 00:10:45,360 Speaker 1: That's when online transactions could be considered truly secure for 168 00:10:45,400 --> 00:10:49,000 Speaker 1: the first time. That led to the possibility of turning 169 00:10:49,000 --> 00:10:53,480 Speaker 1: the Internet, and specifically the Web, into a commerce destination. 170 00:10:53,960 --> 00:10:57,920 Speaker 1: Sites like Amazon and eBay helped usher in a new 171 00:10:58,040 --> 00:11:02,320 Speaker 1: era of commerce, making it practical and then desirable to 172 00:11:02,440 --> 00:11:06,120 Speaker 1: shop online. While those two sites saw a lot of success, 173 00:11:06,520 --> 00:11:09,240 Speaker 1: the early days of e commerce also saw a lot 174 00:11:09,280 --> 00:11:12,360 Speaker 1: of businesses rush into that space without really forming a 175 00:11:12,400 --> 00:11:15,840 Speaker 1: strategy around it. After the dust would settle in the 176 00:11:15,840 --> 00:11:18,920 Speaker 1: wake of the dot com bubble implosion in the early 177 00:11:18,920 --> 00:11:21,800 Speaker 1: two thousand's, companies began to take a more measured approach 178 00:11:21,840 --> 00:11:24,440 Speaker 1: and e commerce started to come into its own. In 179 00:11:24,480 --> 00:11:28,680 Speaker 1: two thousand five, a marketing team led by Ellen Davis 180 00:11:28,960 --> 00:11:32,800 Speaker 1: at a company called shop dot Org introduced the concept 181 00:11:32,960 --> 00:11:36,880 Speaker 1: of cyber Monday. This would be e commerce's response to 182 00:11:36,960 --> 00:11:40,800 Speaker 1: Black Friday, the sales pitch road itself. Why would you 183 00:11:40,880 --> 00:11:44,839 Speaker 1: leave your comfortable home and brave potentially bad weather and 184 00:11:44,920 --> 00:11:48,600 Speaker 1: guaranteed terrible traffic to fight your way into a store 185 00:11:48,960 --> 00:11:51,160 Speaker 1: only to find out that the thing you wanted to 186 00:11:51,240 --> 00:11:55,680 Speaker 1: buy has already sold out. Why risk getting hurt or 187 00:11:55,800 --> 00:12:01,400 Speaker 1: worse as single minded consumers shove and elbow and kick 188 00:12:01,559 --> 00:12:04,800 Speaker 1: their way to get the last tickle me Elmo doll 189 00:12:04,960 --> 00:12:07,280 Speaker 1: or whatever must have items happened to be on sale 190 00:12:07,320 --> 00:12:11,880 Speaker 1: that year. Why not instead sit at home and order 191 00:12:11,960 --> 00:12:15,720 Speaker 1: your holiday gifts online and have them either delivered to 192 00:12:15,760 --> 00:12:19,000 Speaker 1: you or even to the people you plan to give 193 00:12:19,000 --> 00:12:21,360 Speaker 1: gifts to. You take out the whole step of having 194 00:12:21,360 --> 00:12:25,959 Speaker 1: to take the gifts to the people. Cyber Monday was born. 195 00:12:26,440 --> 00:12:29,480 Speaker 1: I'll explain more in just a moment, but first let's 196 00:12:29,520 --> 00:12:39,600 Speaker 1: take a quick break to thank our sponsor. Now, the 197 00:12:39,679 --> 00:12:43,480 Speaker 1: concept of cyber Monday didn't just arrive out of the blue. 198 00:12:43,880 --> 00:12:46,680 Speaker 1: For a few years leading up to two thousand five, 199 00:12:47,360 --> 00:12:52,440 Speaker 1: analysts had seen a boost and online line sales on 200 00:12:52,480 --> 00:12:55,600 Speaker 1: the Monday following Black Friday. They had seen this trend 201 00:12:55,760 --> 00:12:59,560 Speaker 1: happening so maybe some people were late to the game 202 00:12:59,640 --> 00:13:02,240 Speaker 1: and they weren't able to land a deal on Black Friday. 203 00:13:02,440 --> 00:13:05,120 Speaker 1: Maybe some of them weren't able to get hold of 204 00:13:05,160 --> 00:13:08,120 Speaker 1: that must have item in a physical store, so now 205 00:13:08,160 --> 00:13:11,360 Speaker 1: they were looking online. But whatever the reason, by two 206 00:13:11,360 --> 00:13:15,079 Speaker 1: thousand five, Cyber Monday was one of the busier online 207 00:13:15,120 --> 00:13:18,920 Speaker 1: shopping days of the year, but not the busiest, in fact, 208 00:13:19,160 --> 00:13:21,840 Speaker 1: not even in the top ten. By two thousand five, 209 00:13:21,880 --> 00:13:25,320 Speaker 1: it was more like the twelfth most popular shopping day 210 00:13:25,400 --> 00:13:29,840 Speaker 1: online at that point. But the Cyber Monday marketing idea 211 00:13:30,080 --> 00:13:33,880 Speaker 1: would change that. So the media, here's about this idea 212 00:13:34,040 --> 00:13:37,440 Speaker 1: in two thousand five, and they jump all over this 213 00:13:37,600 --> 00:13:42,199 Speaker 1: concept of Cyber Monday. And this is no surprise. News 214 00:13:42,200 --> 00:13:46,000 Speaker 1: about sales tends to get a lot of attention, whether 215 00:13:46,240 --> 00:13:50,480 Speaker 1: it's in print, audio, or television spots. You've probably seen 216 00:13:50,679 --> 00:13:54,520 Speaker 1: countless articles and videos that lists the biggest Black Friday 217 00:13:54,720 --> 00:13:57,920 Speaker 1: or Cyber Monday deals. There's a whole industry around this. 218 00:13:58,559 --> 00:14:01,720 Speaker 1: There are groups that start putting out information about it 219 00:14:02,080 --> 00:14:05,640 Speaker 1: before November even starts to talk about the big Black 220 00:14:05,679 --> 00:14:08,600 Speaker 1: Friday or Cyber Monday deals that are coming down the line. 221 00:14:09,160 --> 00:14:13,480 Speaker 1: So media outlets were highly motivated to take this new 222 00:14:13,559 --> 00:14:17,480 Speaker 1: concept and to run with it. Online retailers would get 223 00:14:17,480 --> 00:14:20,760 Speaker 1: on board too, because the media coverage amounted to free 224 00:14:20,800 --> 00:14:24,280 Speaker 1: publicity and they started to see their sales increase. So 225 00:14:24,600 --> 00:14:27,720 Speaker 1: two thousand five was a good start. Analysts estimated the 226 00:14:27,800 --> 00:14:31,840 Speaker 1: online retailers saw about four eight four million dollars in 227 00:14:31,920 --> 00:14:36,920 Speaker 1: sales collectively on that Monday that year. But the retailers 228 00:14:36,920 --> 00:14:39,520 Speaker 1: would prepare themselves to really push for it in a 229 00:14:39,560 --> 00:14:43,920 Speaker 1: big way in the years to follow. By creating promotions 230 00:14:44,400 --> 00:14:48,560 Speaker 1: and sales tied to this concept of cyber Monday, they 231 00:14:48,600 --> 00:14:54,359 Speaker 1: could actually increase sales dramatically over a typical shopping day online. 232 00:14:55,320 --> 00:14:59,600 Speaker 1: In two thousand and six, CNN ran a story that 233 00:14:59,680 --> 00:15:03,400 Speaker 1: point it out that certain sought after items were being 234 00:15:03,720 --> 00:15:07,800 Speaker 1: really scarce in brick and mortar stores but were available online. 235 00:15:08,200 --> 00:15:13,360 Speaker 1: The article had the title, for e tailors, It's Cyber Monday, 236 00:15:13,400 --> 00:15:16,760 Speaker 1: and it had a subheadline that said traffic tracking services 237 00:15:17,080 --> 00:15:21,520 Speaker 1: showed a fifty increase in Internet traffic at various online 238 00:15:21,560 --> 00:15:25,480 Speaker 1: commerce sites on that Monday. The sought after items included 239 00:15:25,520 --> 00:15:30,280 Speaker 1: stuff like the PlayStation three gaming console from Sony, Nintendo's 240 00:15:30,400 --> 00:15:35,160 Speaker 1: we gaming console, and the aforementioned Elmo, though this one 241 00:15:35,280 --> 00:15:38,440 Speaker 1: was the Tickle Me Elmo t m X. And by 242 00:15:38,480 --> 00:15:41,560 Speaker 1: the way, just as a side note, I actually watched 243 00:15:41,640 --> 00:15:45,440 Speaker 1: a video of that Elmo toy for this podcast because 244 00:15:45,440 --> 00:15:49,080 Speaker 1: I'm nothing if not thorough in my research, and I 245 00:15:49,120 --> 00:15:51,240 Speaker 1: didn't remember this toy. That's why I was like, what 246 00:15:51,480 --> 00:15:53,880 Speaker 1: is the tickle Me Elmo t MX? How is that 247 00:15:53,960 --> 00:15:56,280 Speaker 1: different from the Tickle Me Elmo, which was a doll 248 00:15:56,280 --> 00:16:00,680 Speaker 1: that would laugh and vibrate like crazy whenever you activated it. 249 00:16:01,120 --> 00:16:05,600 Speaker 1: So in the video I saw Elmo as a toy 250 00:16:05,680 --> 00:16:09,160 Speaker 1: that could stand up. Is is actually standing and you 251 00:16:09,160 --> 00:16:12,320 Speaker 1: would activate it by pressing certain points on the doll 252 00:16:12,760 --> 00:16:15,040 Speaker 1: and it would start to laugh and it moves its 253 00:16:15,200 --> 00:16:18,160 Speaker 1: arms and eventually it bends over like it's laughing so 254 00:16:18,200 --> 00:16:20,760 Speaker 1: hard it can't stand up straight. It falls over onto 255 00:16:20,800 --> 00:16:23,160 Speaker 1: the ground, and then ultimately at the end of this 256 00:16:23,240 --> 00:16:26,000 Speaker 1: it stands itself back up. The best part about this 257 00:16:26,080 --> 00:16:29,880 Speaker 1: story is while I was watching this, my coworker Noel Brown, 258 00:16:29,960 --> 00:16:32,560 Speaker 1: who's one of the hosts of Ridiculous History, walked up 259 00:16:32,560 --> 00:16:34,840 Speaker 1: behind me and he asked me what the heck was 260 00:16:34,880 --> 00:16:38,080 Speaker 1: I watching. Although he didn't use those words, he he 261 00:16:38,120 --> 00:16:41,240 Speaker 1: was a bit more coarse in his language, but upon 262 00:16:41,440 --> 00:16:44,000 Speaker 1: explaining it, he shook his head and walked away. That's 263 00:16:44,040 --> 00:16:46,680 Speaker 1: the typical response I get here at the office. In 264 00:16:46,680 --> 00:16:49,960 Speaker 1: two thousand seven, online sales were up to seven hundred 265 00:16:50,200 --> 00:16:54,960 Speaker 1: thirty million dollars. Then, in December two thousand seven, the 266 00:16:55,080 --> 00:16:58,680 Speaker 1: United States entered what was later called the Great Recession. 267 00:16:59,320 --> 00:17:02,880 Speaker 1: This was when real estate market collapsed, which in turn 268 00:17:03,000 --> 00:17:06,520 Speaker 1: made mortgage backed securities issued by banks to fall in 269 00:17:06,720 --> 00:17:10,240 Speaker 1: value dramatically, and that in turn threatened the solvency of 270 00:17:10,400 --> 00:17:14,399 Speaker 1: various financial institutions like those banks that led to the 271 00:17:14,440 --> 00:17:18,440 Speaker 1: government bailouts of banks and businesses began laying off workers 272 00:17:18,440 --> 00:17:21,960 Speaker 1: and eliminating jobs. It doubled the unemployment rate in the 273 00:17:22,000 --> 00:17:25,639 Speaker 1: United States until it hit ten percent. Now, the reason 274 00:17:25,680 --> 00:17:31,480 Speaker 1: I mentioned all of that is because, despite this economic downturn, 275 00:17:31,560 --> 00:17:36,040 Speaker 1: online retailers would see a year over year increase in 276 00:17:36,160 --> 00:17:39,040 Speaker 1: sales from two thousand seven to two thousand eight two 277 00:17:39,040 --> 00:17:43,680 Speaker 1: thousand seven seven thirty million dollars two thousand eight, eight 278 00:17:43,760 --> 00:17:48,480 Speaker 1: hundred forty six million dollars despite the economic downturn. Now, 279 00:17:48,480 --> 00:17:52,320 Speaker 1: one possible reason for the higher number is that people 280 00:17:52,359 --> 00:17:54,680 Speaker 1: weren't just looking for a good deal in two thousand eight, 281 00:17:55,080 --> 00:17:58,280 Speaker 1: they needed good deals. People still wanted to buy presents 282 00:17:58,480 --> 00:18:01,639 Speaker 1: for friends and family, but money was tight, so sales 283 00:18:01,680 --> 00:18:04,760 Speaker 1: were more important than ever. An online seemed to give 284 00:18:05,240 --> 00:18:09,720 Speaker 1: the biggest access to those sales. The holiday season in 285 00:18:09,720 --> 00:18:13,080 Speaker 1: two thousand eight also saw a rising battle between traditional 286 00:18:13,119 --> 00:18:18,199 Speaker 1: retailer Walmart an online giant Amazon. Amazon would take the 287 00:18:18,320 --> 00:18:22,800 Speaker 1: number one spot according to traffic tracking services, with an 288 00:18:22,840 --> 00:18:27,879 Speaker 1: increase of twenty one percent more traffic year over year. Walmart, 289 00:18:27,960 --> 00:18:32,919 Speaker 1: by comparison, only saw a six percent increase. More importantly, 290 00:18:33,000 --> 00:18:37,000 Speaker 1: for Amazon, it became the most popular online destination for 291 00:18:37,119 --> 00:18:41,240 Speaker 1: commerce on Cyber Monday. In two thousand nine, com Score, 292 00:18:41,280 --> 00:18:44,040 Speaker 1: which is a data analysis firm, published a report that 293 00:18:44,119 --> 00:18:47,640 Speaker 1: said forty one point six percent of all online shoppers 294 00:18:47,680 --> 00:18:51,000 Speaker 1: were logging in from home, but fifty two point nine 295 00:18:51,080 --> 00:18:55,000 Speaker 1: percent were logging in from work. So maybe that don't 296 00:18:55,080 --> 00:18:59,200 Speaker 1: want to go to work itis bubonic plague that prompted 297 00:18:59,280 --> 00:19:03,240 Speaker 1: that initial article that gave us the term Black Friday 298 00:19:03,320 --> 00:19:07,040 Speaker 1: for the day after Thanksgiving, maybe that now extends to 299 00:19:07,119 --> 00:19:10,800 Speaker 1: everyone on the following Monday. They might be at work, 300 00:19:10,920 --> 00:19:13,960 Speaker 1: but instead of actually working, they could be scouring the 301 00:19:14,000 --> 00:19:17,399 Speaker 1: internet for the best deals in lowest prices, same as 302 00:19:17,400 --> 00:19:21,480 Speaker 1: it ever was. I guess Walmart would strike back against 303 00:19:21,520 --> 00:19:25,560 Speaker 1: Amazon in two thousand nine when when it announced cyber 304 00:19:25,760 --> 00:19:30,720 Speaker 1: Week and set the chorus for things as they are now. 305 00:19:31,000 --> 00:19:34,600 Speaker 1: This extended the sales that Walmart was showing off for 306 00:19:34,640 --> 00:19:38,919 Speaker 1: a full week following Thanksgiving. That would prompt other retailers 307 00:19:38,960 --> 00:19:43,080 Speaker 1: to follow suit in and would also be when Cyber 308 00:19:43,160 --> 00:19:47,000 Speaker 1: Monday would become the busiest online shopping day of the year, 309 00:19:47,440 --> 00:19:50,359 Speaker 1: and it's been that way ever since. Was also the 310 00:19:50,400 --> 00:19:55,520 Speaker 1: first year that Cyber Monday sales would top one billion dollars. 311 00:19:55,560 --> 00:19:58,840 Speaker 1: But just to put things into perspective, that same year 312 00:19:59,160 --> 00:20:02,560 Speaker 1: saw shoppers visit real world stores to the tune of 313 00:20:02,680 --> 00:20:07,679 Speaker 1: ten point seven billion dollars in sales, So cyber Monday 314 00:20:07,680 --> 00:20:09,960 Speaker 1: was a big success, but it was still trailing far 315 00:20:10,040 --> 00:20:15,000 Speaker 1: behind Black Friday and traditional stores. The next year in 316 00:20:16,119 --> 00:20:20,199 Speaker 1: c NBC rather predictably reported that Black Friday and Cyber 317 00:20:20,280 --> 00:20:25,600 Speaker 1: Monday had effectively gloamed together to create this mutated beast 318 00:20:25,760 --> 00:20:28,960 Speaker 1: of a long shopping weekend, and we were starting to 319 00:20:28,960 --> 00:20:33,320 Speaker 1: see sales extend further out in both directions from Black Friday. 320 00:20:33,320 --> 00:20:36,159 Speaker 1: While this also had the effect of cannibalizing some of 321 00:20:36,160 --> 00:20:40,280 Speaker 1: the sales on Friday and Monday themselves. Ultimately, I'm pretty 322 00:20:40,280 --> 00:20:43,760 Speaker 1: sure merchants don't really care when they're selling stuff. They 323 00:20:43,800 --> 00:20:46,200 Speaker 1: just care if they are selling it and how much 324 00:20:46,240 --> 00:20:49,480 Speaker 1: they're able to sell. In two thousand twelve, we would 325 00:20:49,480 --> 00:20:53,040 Speaker 1: see another shift in consumer behavior, one that would shape 326 00:20:53,040 --> 00:20:58,320 Speaker 1: the way retailers would target customers. More shoppers, nearly twenty 327 00:20:58,400 --> 00:21:02,359 Speaker 1: percent of them began to smartphones to look at cyber deals. 328 00:21:02,800 --> 00:21:05,520 Speaker 1: This was a twelve percent increase from the previous year 329 00:21:05,960 --> 00:21:09,480 Speaker 1: and also an indication that mobile browsing was the future. 330 00:21:09,760 --> 00:21:12,639 Speaker 1: And this, by the way, was something the entire online 331 00:21:12,760 --> 00:21:16,119 Speaker 1: content world was starting to realize. Right around this point. 332 00:21:16,480 --> 00:21:19,760 Speaker 1: Anyone who worked in that world, such as yours truly 333 00:21:20,200 --> 00:21:23,280 Speaker 1: was starting to think about ways to optimize content for 334 00:21:23,359 --> 00:21:26,920 Speaker 1: the mobile experience. It was clear that companies that could 335 00:21:27,000 --> 00:21:29,960 Speaker 1: make their online experience a positive one, no matter what 336 00:21:30,119 --> 00:21:33,120 Speaker 1: sort of device someone might use to access it, would 337 00:21:33,119 --> 00:21:36,720 Speaker 1: be well ahead of the game. That included e commerce sites, 338 00:21:36,920 --> 00:21:40,240 Speaker 1: which began to invest more money in creating user interfaces 339 00:21:40,280 --> 00:21:45,320 Speaker 1: for their stores, specifically for smartphones. In all, consumers spent 340 00:21:45,480 --> 00:21:50,240 Speaker 1: one point four six five billion dollars in online shopping 341 00:21:50,520 --> 00:21:54,960 Speaker 1: on Cyber Monday. In two thousand twelve, electronics, computer hardware, 342 00:21:55,000 --> 00:21:58,879 Speaker 1: and video games all experienced huge jumps in sales gains 343 00:21:59,080 --> 00:22:03,040 Speaker 1: year over year, but the top performing category according to 344 00:22:03,040 --> 00:22:07,560 Speaker 1: com Score was in digital content and subscriptions. Also by 345 00:22:07,600 --> 00:22:10,800 Speaker 1: two thousand twelve, there was a pretty much even split 346 00:22:10,960 --> 00:22:13,520 Speaker 1: between people buying stuff while surfing the web from home 347 00:22:13,840 --> 00:22:15,760 Speaker 1: and those who were still on the clock at work. 348 00:22:16,320 --> 00:22:19,720 Speaker 1: In two thousand thirteen, fashion websites began to finally get 349 00:22:19,760 --> 00:22:23,440 Speaker 1: in on this Cyber Monday game. Clothing retailers like Old 350 00:22:23,520 --> 00:22:27,119 Speaker 1: Navy started to launch their own Cyber Monday deals, taking 351 00:22:27,119 --> 00:22:30,520 Speaker 1: advantage of the same shopping frenzy as other retailers. And 352 00:22:30,560 --> 00:22:33,639 Speaker 1: this actually reminds us that one of the values of 353 00:22:33,680 --> 00:22:37,000 Speaker 1: these days, both Black Friday and of Cyber Monday, to retailers, 354 00:22:37,040 --> 00:22:39,639 Speaker 1: in large part is due to the fact that we 355 00:22:39,800 --> 00:22:43,720 Speaker 1: as consumers have been conditioned to shop on those days. 356 00:22:44,200 --> 00:22:47,719 Speaker 1: So many people are already in a mindset to go 357 00:22:47,800 --> 00:22:50,320 Speaker 1: out there and get ready to buy stuff, and by 358 00:22:50,400 --> 00:22:53,880 Speaker 1: leveraging that from the retail side and pairing a good 359 00:22:53,880 --> 00:22:56,320 Speaker 1: deal or two to take advantage of it wherever you can, 360 00:22:56,800 --> 00:23:00,000 Speaker 1: just makes really good business sense. In two thousand fifty, 361 00:23:00,440 --> 00:23:03,880 Speaker 1: Target announced it was offering up a fifteen percent discount 362 00:23:03,880 --> 00:23:07,560 Speaker 1: across all of Target dot Com for Cyber Monday, showing 363 00:23:07,600 --> 00:23:11,040 Speaker 1: that the big retail businesses were really playing serious at 364 00:23:11,040 --> 00:23:15,600 Speaker 1: this point and in things would really go crazy as 365 00:23:15,600 --> 00:23:18,960 Speaker 1: the concept of cyber Week took hold for more retailers. 366 00:23:19,280 --> 00:23:21,400 Speaker 1: I'll explain more in just a moment, but first let's 367 00:23:21,440 --> 00:23:31,760 Speaker 1: take another quick break to thank our sponsor so In. 368 00:23:32,840 --> 00:23:38,280 Speaker 1: According to calm Score, retailers saw eleven billion dollars in 369 00:23:38,400 --> 00:23:42,160 Speaker 1: sales during cyber Week. Now that started on Monday, November 370 00:23:43,119 --> 00:23:46,960 Speaker 1: and it ended on December four. Cyber Monday itself accounted 371 00:23:46,960 --> 00:23:51,200 Speaker 1: for nearly two point seven billion dollars in sales all alone. 372 00:23:51,359 --> 00:23:54,520 Speaker 1: And not only that, but starting on Thanksgiving Day, e 373 00:23:54,680 --> 00:23:59,280 Speaker 1: commerce sites collectively saw more than one billion dollars of 374 00:23:59,359 --> 00:24:04,399 Speaker 1: sales every day for eleven days straight. It drove the 375 00:24:04,440 --> 00:24:07,760 Speaker 1: holiday season sales, which combs scored defined as starting on 376 00:24:07,840 --> 00:24:12,040 Speaker 1: November one and indig on December four, to achieve nearly 377 00:24:12,119 --> 00:24:18,720 Speaker 1: thirty eight billion dollars in sales. That's a ton of money. Also, 378 00:24:18,760 --> 00:24:22,320 Speaker 1: in twenty sixteen, one two million people in the United 379 00:24:22,320 --> 00:24:26,639 Speaker 1: States did some online shopping on cyber Monday. But on 380 00:24:26,760 --> 00:24:31,800 Speaker 1: Black Friday only one hundred sixteen million Americans did any shopping, 381 00:24:32,400 --> 00:24:35,359 Speaker 1: and that includes sixty seven point nine million people who 382 00:24:35,400 --> 00:24:39,520 Speaker 1: were doing online shopping. So in twenty sixteen, cyber Monday 383 00:24:39,920 --> 00:24:44,400 Speaker 1: pulled ahead of Black Friday as the busiest shopping day 384 00:24:44,560 --> 00:24:47,560 Speaker 1: in the United States and all without having to line 385 00:24:47,640 --> 00:24:49,840 Speaker 1: up in front of a store at three in the morning. 386 00:24:50,320 --> 00:24:55,480 Speaker 1: In comm Score reported that consumers spent three point three 387 00:24:55,640 --> 00:25:01,480 Speaker 1: six billion dollars on Cyber Monday from usk top computers, 388 00:25:02,119 --> 00:25:06,160 Speaker 1: so just from desktops. According to the Verge, purchases made 389 00:25:06,200 --> 00:25:09,879 Speaker 1: from mobile devices accounted for another two billion dollars in sales. 390 00:25:10,400 --> 00:25:13,280 Speaker 1: And according to multiple sources, although this doesn't really match 391 00:25:13,359 --> 00:25:17,159 Speaker 1: up with the com Score numbers, the collective cyber Monday 392 00:25:17,280 --> 00:25:21,720 Speaker 1: sales efforts in twenty seventeen amounted to six point five 393 00:25:21,880 --> 00:25:25,600 Speaker 1: nine billion dollars in sales. Now, if you look at 394 00:25:25,640 --> 00:25:29,840 Speaker 1: the sales figures from Thanksgiving through Cyber Monday, online sales 395 00:25:29,880 --> 00:25:34,840 Speaker 1: amounted to nineteen point six to billion dollars, truly an 396 00:25:35,200 --> 00:25:38,760 Speaker 1: enormous sum of money. Now. According to a survey from 397 00:25:38,960 --> 00:25:42,560 Speaker 1: National Retail Federation as well as a company called prosper 398 00:25:42,680 --> 00:25:47,040 Speaker 1: Insights and Analytics that partnered to make this survey. Fifty 399 00:25:47,119 --> 00:25:51,280 Speaker 1: eight million Americans chose to do their holiday shopping online, 400 00:25:51,400 --> 00:25:56,000 Speaker 1: only fifty one million chose to shop only at physical stores, 401 00:25:56,680 --> 00:26:00,560 Speaker 1: and more than sixty four million Americans did some combination 402 00:26:00,640 --> 00:26:04,200 Speaker 1: of the two. So while online shopping has definitely pulled 403 00:26:04,240 --> 00:26:08,200 Speaker 1: ahead of going to actual brick and mortar stores, there's 404 00:26:08,240 --> 00:26:12,920 Speaker 1: still a place for those physical shops. They are not obsolete. 405 00:26:13,359 --> 00:26:16,880 Speaker 1: People are still shopping there in droves, just they're doing 406 00:26:16,960 --> 00:26:20,760 Speaker 1: it more online. The Wall Street Journal reported that brick 407 00:26:20,800 --> 00:26:23,680 Speaker 1: and mortar stores did see a decrease of about four 408 00:26:23,800 --> 00:26:26,520 Speaker 1: percent in the number of people visiting those stores in 409 00:26:27,880 --> 00:26:31,600 Speaker 1: compared to the same time in so we are seeing 410 00:26:32,160 --> 00:26:34,840 Speaker 1: fewer people going to these stores. It's not quite to 411 00:26:34,920 --> 00:26:36,960 Speaker 1: the point where I would want to try and go 412 00:26:37,080 --> 00:26:39,479 Speaker 1: out on Black Friday. I think there's still way too 413 00:26:39,520 --> 00:26:42,520 Speaker 1: many people out there, but we're getting there now. There 414 00:26:42,600 --> 00:26:45,880 Speaker 1: is a growing concern that by extending these deals out 415 00:26:46,000 --> 00:26:49,720 Speaker 1: from Black Friday and Cyber Monday, the whole Cyber week thing, 416 00:26:49,840 --> 00:26:53,560 Speaker 1: and the Black Friday sales that start two weeks before Thanksgiving, 417 00:26:53,960 --> 00:26:56,480 Speaker 1: that these sales are going to lose their luster, and 418 00:26:56,600 --> 00:27:00,800 Speaker 1: again part of what drives so much sales activity are 419 00:27:00,880 --> 00:27:04,359 Speaker 1: the limitations around the sales dates. If you make items 420 00:27:04,359 --> 00:27:07,320 Speaker 1: available only for a limited time at a lower price, 421 00:27:07,760 --> 00:27:11,840 Speaker 1: it drives up consumer interest and it encourages shopping. You 422 00:27:11,960 --> 00:27:14,639 Speaker 1: just introduced that idea in a customer's head that the 423 00:27:14,760 --> 00:27:17,959 Speaker 1: thing that kind of sort of wanted is only going 424 00:27:18,000 --> 00:27:20,080 Speaker 1: to be at a discounted price for a short while, 425 00:27:20,440 --> 00:27:22,600 Speaker 1: and then you're more likely to move them to actually 426 00:27:22,760 --> 00:27:26,440 Speaker 1: buy that thing. But if you extend the sale out, 427 00:27:26,840 --> 00:27:30,080 Speaker 1: you make it less special. You dilute that effect to 428 00:27:30,240 --> 00:27:33,440 Speaker 1: some extent, and the danger is that ultimately you'll start 429 00:27:33,520 --> 00:27:36,959 Speaker 1: to see sales slow down or worse yet, decline as 430 00:27:37,000 --> 00:27:41,040 Speaker 1: a result, because people don't feel compelled to go out 431 00:27:41,200 --> 00:27:44,880 Speaker 1: and buy that thing because it's been marked down. As 432 00:27:44,960 --> 00:27:48,359 Speaker 1: for what is driving the popularity of online shopping, a 433 00:27:48,480 --> 00:27:51,520 Speaker 1: lot of it is opportunity. More people have access to 434 00:27:51,600 --> 00:27:55,160 Speaker 1: getting online than ever before, and for many people, working 435 00:27:55,240 --> 00:27:58,760 Speaker 1: at a computer is part of their job, so they 436 00:27:58,800 --> 00:28:01,960 Speaker 1: can easily access us these deals whether they're at work 437 00:28:02,080 --> 00:28:04,920 Speaker 1: or at home. For other people, a smartphone and a 438 00:28:05,000 --> 00:28:06,720 Speaker 1: credit card is really all they need to get some 439 00:28:06,840 --> 00:28:10,919 Speaker 1: shopping in, So even if employees are limiting their online shopping, 440 00:28:11,400 --> 00:28:14,800 Speaker 1: just times when they're on break and they're not actually 441 00:28:14,880 --> 00:28:17,960 Speaker 1: trying to snag a deal on the company dime. You 442 00:28:18,040 --> 00:28:20,800 Speaker 1: would still expect to see growth in this field, just 443 00:28:20,920 --> 00:28:25,360 Speaker 1: because we're seeing more penetration in computer access and internet access. 444 00:28:25,800 --> 00:28:30,000 Speaker 1: The National Retail Federation predicts that in retailers will see 445 00:28:30,000 --> 00:28:32,920 Speaker 1: an increase in sales between four point three percent and 446 00:28:33,040 --> 00:28:36,960 Speaker 1: four point eight percent. That's actually a step down from 447 00:28:37,040 --> 00:28:39,760 Speaker 1: the increase in twenty seventeen that was at five point 448 00:28:39,840 --> 00:28:44,160 Speaker 1: five percent. Over the figures, but it still means that 449 00:28:44,240 --> 00:28:47,720 Speaker 1: we're going to see more sales this year, and it 450 00:28:47,760 --> 00:28:50,840 Speaker 1: would mean that the entire holiday season, not just Black 451 00:28:50,920 --> 00:28:53,680 Speaker 1: Friday and Cyber Monday, but during the course of the 452 00:28:53,720 --> 00:28:59,000 Speaker 1: holiday season, we will see sales between seven hundred seventeen 453 00:28:59,200 --> 00:29:05,640 Speaker 1: point five billion dollars and seven point nine billion dollars, 454 00:29:06,200 --> 00:29:09,560 Speaker 1: getting close to a trillion dollars in sales over the 455 00:29:09,640 --> 00:29:14,040 Speaker 1: holiday season. That is crazy. So now let's get down 456 00:29:14,080 --> 00:29:17,840 Speaker 1: to brass tacks. How do you find good deals? Well, 457 00:29:17,880 --> 00:29:22,000 Speaker 1: like I mentioned earlier, deals are happening before and after 458 00:29:22,400 --> 00:29:25,640 Speaker 1: Black Friday and Cyber Monday, so those days don't really 459 00:29:25,760 --> 00:29:29,280 Speaker 1: matter as much in the grand scheme. Of things. By 460 00:29:29,320 --> 00:29:31,600 Speaker 1: the time you are listening to this episode, on the 461 00:29:31,720 --> 00:29:36,160 Speaker 1: day that it publishes, deals are already going on. Amazon 462 00:29:36,280 --> 00:29:39,000 Speaker 1: typically leads the charge, and I imagine part of this 463 00:29:39,120 --> 00:29:43,280 Speaker 1: strategy is that they're trying to head off all the 464 00:29:43,360 --> 00:29:45,680 Speaker 1: retailers at the past. They're trying to get ahead of them, 465 00:29:46,040 --> 00:29:48,880 Speaker 1: get ahead of Black Friday, because there's a limited amount 466 00:29:48,880 --> 00:29:51,560 Speaker 1: of money out there. Right, Shoppers are only going to 467 00:29:51,680 --> 00:29:55,239 Speaker 1: spend so much this year, so Amazon wants to get 468 00:29:55,280 --> 00:29:58,400 Speaker 1: ahead of all the other deals to get as much 469 00:29:58,600 --> 00:30:03,280 Speaker 1: of those dollars as it possibly can. That's the deal 470 00:30:03,440 --> 00:30:08,440 Speaker 1: with business, right. Online sales are actually best on Thanksgiving Day, 471 00:30:08,840 --> 00:30:14,200 Speaker 1: typically with an average discount of twenty Categories of stuff 472 00:30:14,240 --> 00:30:17,160 Speaker 1: that tends to have the biggest discounts on Thanksgiving Day 473 00:30:17,480 --> 00:30:22,160 Speaker 1: include things like sporting goods, computers, video games, and clothing. 474 00:30:22,360 --> 00:30:24,840 Speaker 1: So if you're shopping for any of those things, set 475 00:30:24,880 --> 00:30:28,160 Speaker 1: aside some time on Turkey Day to pop online and 476 00:30:28,280 --> 00:30:30,400 Speaker 1: check out some deals. But if you want to buy 477 00:30:30,440 --> 00:30:33,920 Speaker 1: something like a television or a tablet, computer, or maybe 478 00:30:33,960 --> 00:30:37,120 Speaker 1: a small appliance, your best bet for the biggest discount 479 00:30:37,240 --> 00:30:41,840 Speaker 1: online is actually Black Friday, not Cyber Monday. But there's 480 00:30:41,880 --> 00:30:43,280 Speaker 1: no need for you to jump in a car and 481 00:30:43,360 --> 00:30:45,560 Speaker 1: head to the local mall, you just go online. Online 482 00:30:45,600 --> 00:30:48,360 Speaker 1: sales tend to be best for those items. On the 483 00:30:48,440 --> 00:30:52,240 Speaker 1: old traditional shopping day, Cyber Monday is still great for 484 00:30:52,320 --> 00:30:54,720 Speaker 1: a lot of different deals, but if you're really in 485 00:30:54,800 --> 00:30:57,720 Speaker 1: the market for something new, or you're looking to save 486 00:30:57,800 --> 00:31:00,920 Speaker 1: the most money on gifts thanksgiving him, Black Friday, or 487 00:31:00,960 --> 00:31:03,480 Speaker 1: when you should pop open the computer and hunt around 488 00:31:03,520 --> 00:31:05,560 Speaker 1: a bit. It's also a great idea to do some 489 00:31:05,680 --> 00:31:08,160 Speaker 1: research on the various items that are for sale. You 490 00:31:08,280 --> 00:31:11,960 Speaker 1: might find that the discounted items are ones that are 491 00:31:12,040 --> 00:31:16,120 Speaker 1: not really the best in their class. They might lack 492 00:31:16,280 --> 00:31:20,040 Speaker 1: some interesting features. This happens a lot with television's. You'll 493 00:31:20,080 --> 00:31:23,280 Speaker 1: see a lot of TVs get marked way down. Then 494 00:31:23,360 --> 00:31:25,240 Speaker 1: if you do a little research, you might find out, oh, 495 00:31:25,280 --> 00:31:29,400 Speaker 1: well that's because that television doesn't have a particularly high 496 00:31:29,480 --> 00:31:33,000 Speaker 1: resolution or it's got a lot of limited features. And 497 00:31:33,080 --> 00:31:35,760 Speaker 1: then you realize, well, yeah, I could buy a television 498 00:31:35,800 --> 00:31:38,560 Speaker 1: for super cheap, but it's not necessarily a good TV. 499 00:31:38,920 --> 00:31:41,280 Speaker 1: So you want to do that research. And just because 500 00:31:41,360 --> 00:31:44,800 Speaker 1: something is being sold at a big discount doesn't always 501 00:31:44,840 --> 00:31:48,040 Speaker 1: mean it's worth buying. Also, it's not a bad idea 502 00:31:48,160 --> 00:31:51,920 Speaker 1: to look around to see what the price history was 503 00:31:52,200 --> 00:31:55,640 Speaker 1: of certain items. Every now and then a retailer will 504 00:31:55,760 --> 00:32:00,080 Speaker 1: mark up an item just before a big sale, and 505 00:32:00,200 --> 00:32:03,080 Speaker 1: that way, when they put in the discount, the sale 506 00:32:03,160 --> 00:32:07,960 Speaker 1: price is really not that different from the original price 507 00:32:08,240 --> 00:32:12,000 Speaker 1: of the item. It could be that in October you 508 00:32:12,040 --> 00:32:15,720 Speaker 1: could have bought something for five dollars, and then going 509 00:32:15,760 --> 00:32:18,880 Speaker 1: into November it gets marked up to six dollars, But 510 00:32:18,960 --> 00:32:21,160 Speaker 1: then the discount means that they're selling it for four 511 00:32:21,560 --> 00:32:24,600 Speaker 1: seventy five dollars, So it looks like a bigger discount 512 00:32:24,680 --> 00:32:28,120 Speaker 1: because the original price appears to have been six hundred, 513 00:32:28,560 --> 00:32:30,200 Speaker 1: But if you go back just a little further, you 514 00:32:30,280 --> 00:32:34,160 Speaker 1: see that the price was lower earlier. Just be careful. 515 00:32:34,400 --> 00:32:37,080 Speaker 1: Sometimes that deal that's too good to be true is 516 00:32:37,160 --> 00:32:39,880 Speaker 1: too good to be true. Online holiday sales tend to 517 00:32:39,920 --> 00:32:42,760 Speaker 1: feature pretty good deals leading all the way up to 518 00:32:42,880 --> 00:32:47,080 Speaker 1: Green Monday. Now, Green Monday is the second Monday in December, 519 00:32:47,480 --> 00:32:51,320 Speaker 1: and it's just ten shipping days out from Christmas Day, 520 00:32:51,840 --> 00:32:54,800 Speaker 1: meaning if you wait any longer, you may not have 521 00:32:55,000 --> 00:32:57,840 Speaker 1: enough time for your order to get to you before 522 00:32:57,920 --> 00:33:02,560 Speaker 1: the gift giving festivities occur in That day falls on 523 00:33:02,680 --> 00:33:07,040 Speaker 1: December ten, and the name Green Monday actually comes from 524 00:33:07,120 --> 00:33:11,200 Speaker 1: the site eBay. eBay coined the term green Monday in 525 00:33:11,280 --> 00:33:14,560 Speaker 1: two thousand seven. That was after they had noticed that 526 00:33:15,200 --> 00:33:18,520 Speaker 1: this particular Monday had some of the highest sales of 527 00:33:18,560 --> 00:33:21,240 Speaker 1: the year. In fact, it was the busiest online shopping 528 00:33:21,360 --> 00:33:26,000 Speaker 1: day for quite some time. Cyber Monday would pass Green 529 00:33:26,120 --> 00:33:30,120 Speaker 1: Monday in two thousand nine during the Great Recession, and 530 00:33:30,200 --> 00:33:33,640 Speaker 1: then Cyber Monday would ultimately become the busiest online shopping 531 00:33:33,760 --> 00:33:37,080 Speaker 1: day and Green Monday would fall quite a bit. But 532 00:33:37,520 --> 00:33:41,360 Speaker 1: it's still very popular online shopping day. In fact, now 533 00:33:41,440 --> 00:33:43,840 Speaker 1: I think it's climbed back up to number two. It 534 00:33:44,000 --> 00:33:46,200 Speaker 1: was down in its number five for a while, but 535 00:33:46,560 --> 00:33:48,400 Speaker 1: I think it's back up to number two at this point. 536 00:33:49,160 --> 00:33:51,880 Speaker 1: So until Green Monday, you're likely to see some pretty 537 00:33:51,920 --> 00:33:56,960 Speaker 1: good deals online. And that is the history and evolution 538 00:33:57,280 --> 00:34:02,720 Speaker 1: of cyber Monday. Again, it's some combination of marketing, some 539 00:34:02,880 --> 00:34:07,920 Speaker 1: combination of psychology, some combination of just trying to capitalize 540 00:34:08,160 --> 00:34:13,640 Speaker 1: on already established consumer habits. It's good to know all 541 00:34:13,680 --> 00:34:16,600 Speaker 1: of these elements because it informs you before you start 542 00:34:16,719 --> 00:34:19,319 Speaker 1: making decisions on what you're gonna buy and who you're 543 00:34:19,320 --> 00:34:23,040 Speaker 1: going to buy it from. Also, small Business Saturday is 544 00:34:23,040 --> 00:34:24,960 Speaker 1: still a thing, and I still really like it. I 545 00:34:25,080 --> 00:34:28,440 Speaker 1: like supporting small local businesses when I can, because you 546 00:34:28,520 --> 00:34:31,680 Speaker 1: can get some really unique stuff. I know that that's 547 00:34:32,120 --> 00:34:35,280 Speaker 1: redundant to say really unique, but you can get stuff 548 00:34:35,320 --> 00:34:37,480 Speaker 1: that you can't find anywhere else from a lot of 549 00:34:37,520 --> 00:34:41,120 Speaker 1: small businesses, and you support people who are working really 550 00:34:41,160 --> 00:34:44,359 Speaker 1: hard to keep those businesses going. And might mean paying 551 00:34:44,360 --> 00:34:47,520 Speaker 1: a little more for the gift, but it also probably 552 00:34:47,640 --> 00:34:49,640 Speaker 1: mean the gift means a little more, so it all 553 00:34:49,719 --> 00:34:53,120 Speaker 1: evens out right. I hope you enjoyed that episode about 554 00:34:53,120 --> 00:34:56,879 Speaker 1: the history of cyber Monday, and uh, if you are 555 00:34:57,040 --> 00:34:59,799 Speaker 1: hunting for deals, I hope that you find them. Keep 556 00:34:59,840 --> 00:35:03,600 Speaker 1: it mind this year is, like last year, very challenging. 557 00:35:04,080 --> 00:35:07,640 Speaker 1: They're still supply chain issues all around the world. So 558 00:35:08,120 --> 00:35:11,000 Speaker 1: my recommendation is, don't have your heart set on any 559 00:35:11,160 --> 00:35:15,239 Speaker 1: specific product unless you just happen to know it's in 560 00:35:15,360 --> 00:35:18,560 Speaker 1: stock somewhere that you can get it. Uh, and you know, 561 00:35:18,760 --> 00:35:21,840 Speaker 1: keep your keep your options open, and keep be patient 562 00:35:22,080 --> 00:35:24,680 Speaker 1: because there are a ton of people out there trying 563 00:35:24,840 --> 00:35:28,600 Speaker 1: desperately to get things on track, but there are a 564 00:35:28,719 --> 00:35:32,120 Speaker 1: lot of factors that are making it complicated for products 565 00:35:32,239 --> 00:35:35,840 Speaker 1: to get to customers, and UH, as long as we 566 00:35:35,960 --> 00:35:37,920 Speaker 1: keep that in mind, and we keep in mind that 567 00:35:38,000 --> 00:35:40,719 Speaker 1: the most important thing is to let the people we 568 00:35:40,880 --> 00:35:44,239 Speaker 1: love know that we love them and that hopefully they 569 00:35:44,280 --> 00:35:47,680 Speaker 1: appreciate that, I think we'll get through it. Also, I mean, 570 00:35:48,760 --> 00:35:51,920 Speaker 1: if you can, it's always good to shop locally and 571 00:35:52,000 --> 00:35:56,880 Speaker 1: support your local artists and crafts people and you know, 572 00:35:56,960 --> 00:36:00,160 Speaker 1: the folks who make stuff in your community. UH as 573 00:36:00,200 --> 00:36:03,240 Speaker 1: the biggest impact if you can do that. I realized 574 00:36:03,280 --> 00:36:06,239 Speaker 1: not everyone is in a place where that's a possibility, 575 00:36:06,719 --> 00:36:09,759 Speaker 1: but if that's an option, I highly recommend looking into it. 576 00:36:10,560 --> 00:36:13,879 Speaker 1: I know that for me, getting something that's like from 577 00:36:13,920 --> 00:36:17,279 Speaker 1: a local crafts person has a lot more meaning than 578 00:36:17,480 --> 00:36:21,640 Speaker 1: say a PlayStation five. Um, but if you have an 579 00:36:21,680 --> 00:36:23,640 Speaker 1: extra PlayStation five, I'll take it because I can't find 580 00:36:23,640 --> 00:36:26,680 Speaker 1: one of those anywhere. Okay, So that wraps up this episode. 581 00:36:27,080 --> 00:36:29,200 Speaker 1: If you have suggestions for topics I should cover in 582 00:36:29,280 --> 00:36:31,880 Speaker 1: future episodes of tech Stuff, please reach out to me. 583 00:36:32,000 --> 00:36:34,120 Speaker 1: The best way to do that is on Twitter. The 584 00:36:34,200 --> 00:36:37,000 Speaker 1: handle for the show is text Stuff H s W 585 00:36:37,760 --> 00:36:46,000 Speaker 1: and I'll talk to you again really soon. Text Stuff 586 00:36:46,160 --> 00:36:49,279 Speaker 1: is an I Heart Radio production. For more podcasts from 587 00:36:49,320 --> 00:36:53,080 Speaker 1: my heart Radio, visit the i heart Radio app, Apple podcasts, 588 00:36:53,200 --> 00:36:55,200 Speaker 1: or wherever you listen to your favorite shows.