1 00:00:04,400 --> 00:00:07,800 Speaker 1: Welcome to Tech Stuff, a production from I Heart Radio. 2 00:00:12,400 --> 00:00:15,360 Speaker 1: Hey there, and welcome to tech Stuff. I'm your host, 3 00:00:15,560 --> 00:00:18,960 Speaker 1: Jonathan Strickland. I'm an executive producer with I Heart Radio 4 00:00:19,200 --> 00:00:25,000 Speaker 1: and I love all things tech and Happy Cyber Monday, everybody. 5 00:00:26,000 --> 00:00:29,840 Speaker 1: As I'm sure we're all aware, this year, being in 6 00:00:29,880 --> 00:00:32,600 Speaker 1: the middle of a pandemic is a very different year 7 00:00:32,880 --> 00:00:36,760 Speaker 1: than previous ones. And uh, I'm sure you all were 8 00:00:36,880 --> 00:00:40,160 Speaker 1: very well aware of how that impacted Black Friday, with 9 00:00:40,800 --> 00:00:44,120 Speaker 1: a lot of stores moving their sales up well into 10 00:00:44,159 --> 00:00:48,360 Speaker 1: the middle of November to start, and then running them 11 00:00:48,400 --> 00:00:52,640 Speaker 1: constantly in order to get those those you know, products 12 00:00:52,680 --> 00:00:55,000 Speaker 1: moved when you know that you're not going to be 13 00:00:55,000 --> 00:00:59,600 Speaker 1: able to do those like door buster sales of years past. Personally, 14 00:00:59,760 --> 00:01:02,840 Speaker 1: I'm thankful for that, not for the pandemic. I hate that, 15 00:01:03,280 --> 00:01:06,960 Speaker 1: but I'm thankful that people would not get trampled upon 16 00:01:07,480 --> 00:01:10,960 Speaker 1: in an effort to get one of six televisions that 17 00:01:11,000 --> 00:01:15,680 Speaker 1: have been marked down, you know, or something that's good. 18 00:01:15,959 --> 00:01:20,560 Speaker 1: So I thought that since we had a holiday week previously, 19 00:01:20,680 --> 00:01:23,600 Speaker 1: which means that while I'm recording this, I'm about to 20 00:01:24,640 --> 00:01:28,440 Speaker 1: get ready for Thanksgiving, that we would listen to an 21 00:01:28,480 --> 00:01:32,120 Speaker 1: episode I recorded and published two years ago in ten 22 00:01:32,120 --> 00:01:35,679 Speaker 1: and originally published on November twenty one, The History of 23 00:01:35,800 --> 00:01:38,920 Speaker 1: Cyber Monday, so that we could kind of get a 24 00:01:39,440 --> 00:01:43,520 Speaker 1: understanding of where this phenomenon came from and why it exists. 25 00:01:44,040 --> 00:01:52,280 Speaker 1: So enjoy this episode from the History of Cyber Monday. Today. 26 00:01:52,320 --> 00:01:54,360 Speaker 1: I thought I'd changed things up a bit and talk 27 00:01:54,400 --> 00:01:58,600 Speaker 1: about the history and evolution of cyber Monday. So where 28 00:01:58,600 --> 00:02:02,560 Speaker 1: did this come from? And are the deals on cyber 29 00:02:02,600 --> 00:02:05,320 Speaker 1: Monday really great? And I guess the answer to that 30 00:02:05,400 --> 00:02:09,600 Speaker 1: second question is essentially, uh, it depends. But first let's 31 00:02:09,600 --> 00:02:14,040 Speaker 1: talk about some history. So before there was cyber Monday, 32 00:02:14,560 --> 00:02:17,240 Speaker 1: there was Black Friday, both in the sense that Black 33 00:02:17,280 --> 00:02:20,280 Speaker 1: Friday as a thing is older than Cyber Monday, and 34 00:02:20,320 --> 00:02:23,960 Speaker 1: also cyber Monday is the Monday that follows Black Friday, 35 00:02:23,960 --> 00:02:27,720 Speaker 1: so technically it's true in two different senses. All right, 36 00:02:27,760 --> 00:02:30,000 Speaker 1: So what is Black Friday? One of the United States? 37 00:02:30,360 --> 00:02:34,400 Speaker 1: Black Friday is the friday following Thanksgiving. Thanksgiving in the 38 00:02:34,480 --> 00:02:38,240 Speaker 1: United States falls on the fourth Thursday of November, at 39 00:02:38,320 --> 00:02:41,760 Speaker 1: least it has ever since nineteen thirty nine, when Franklin 40 00:02:41,840 --> 00:02:45,120 Speaker 1: Delano Roosevelt moved the holiday up a week from the 41 00:02:45,160 --> 00:02:49,240 Speaker 1: final Thursday of November. Now, since November two thousand eighteen 42 00:02:49,360 --> 00:02:53,120 Speaker 1: started on a Thursday, November one was a Thursday. That 43 00:02:53,200 --> 00:02:56,480 Speaker 1: means that two thousand eighteen will see Thanksgiving fall as 44 00:02:56,520 --> 00:03:00,480 Speaker 1: early as it can, which means November twenty two, the 45 00:03:00,560 --> 00:03:04,640 Speaker 1: latest it can fall in the month is November. Anyway, 46 00:03:04,800 --> 00:03:08,800 Speaker 1: Black Friday is the day after Thanksgiving in the United States. Now, 47 00:03:09,760 --> 00:03:13,640 Speaker 1: there is an apocryphal story that says the origins of 48 00:03:13,720 --> 00:03:17,560 Speaker 1: Black Friday are deeply racist and tied to the United 49 00:03:17,560 --> 00:03:22,440 Speaker 1: States history with slavery. According to that story, slave traders 50 00:03:22,440 --> 00:03:25,560 Speaker 1: would sell slaves at a discount on the day after 51 00:03:25,720 --> 00:03:29,160 Speaker 1: Thanksgiving to help plantation owners who are going to want 52 00:03:29,200 --> 00:03:32,080 Speaker 1: to purchase more slaves to do work leading up to 53 00:03:32,120 --> 00:03:37,480 Speaker 1: the winter. That's a horrible, horrible thing. But the story 54 00:03:37,640 --> 00:03:41,440 Speaker 1: isn't true at all, And honestly, I find it hard 55 00:03:41,480 --> 00:03:44,800 Speaker 1: to believe that slave traders would respond to an increase 56 00:03:44,840 --> 00:03:49,680 Speaker 1: in demand by lowering their prices. They already seem like terrible, 57 00:03:49,800 --> 00:03:52,040 Speaker 1: terrible human beings. I don't think of them as being 58 00:03:52,120 --> 00:03:57,640 Speaker 1: particularly altruistic. However, we can put that whole explanation aside. Anyway, 59 00:03:57,680 --> 00:04:01,320 Speaker 1: If anyone tells you Black Friday is based in slavery. 60 00:04:01,360 --> 00:04:04,680 Speaker 1: That is not true. The term Black Friday in relation 61 00:04:04,720 --> 00:04:07,840 Speaker 1: to the day after Thanksgiving did not appear in print 62 00:04:08,360 --> 00:04:11,840 Speaker 1: until the nineteen fifties. As far as we can determine. 63 00:04:12,160 --> 00:04:16,200 Speaker 1: There was, however, an earlier version of Black Friday, though 64 00:04:16,320 --> 00:04:20,039 Speaker 1: that was not the day after Thanksgiving. That Black Friday 65 00:04:20,240 --> 00:04:22,640 Speaker 1: wasn't associated with a holiday at all, but rather with 66 00:04:22,720 --> 00:04:27,160 Speaker 1: a stock market crash that happened on Friday, September twenty four, 67 00:04:27,480 --> 00:04:31,279 Speaker 1: eighteen sixty nine. The cause of that crash was that 68 00:04:31,520 --> 00:04:36,080 Speaker 1: there were two speculators named Jay Gould and James Fisk, 69 00:04:36,680 --> 00:04:40,799 Speaker 1: and together they were able to drive up gold prices 70 00:04:41,040 --> 00:04:43,200 Speaker 1: way way up while they were trying to corner the 71 00:04:43,240 --> 00:04:47,480 Speaker 1: market on gold on the New York Gold Exchange. They 72 00:04:47,480 --> 00:04:52,120 Speaker 1: had even planted a story to convince US President Ulysses S. 73 00:04:52,200 --> 00:04:57,000 Speaker 1: Grant to stop gold sales. They had this report that 74 00:04:57,080 --> 00:05:01,080 Speaker 1: it was going to hurt farmers out west. Meanwhile, they 75 00:05:01,120 --> 00:05:03,920 Speaker 1: bought up as much gold as they could and that 76 00:05:04,120 --> 00:05:06,640 Speaker 1: raised gold prices as a result. So they thought they 77 00:05:06,640 --> 00:05:08,799 Speaker 1: were gonna be rich. They're gonna buy up the gold 78 00:05:08,839 --> 00:05:12,760 Speaker 1: and then they could sell it off at these elevated prices. However, 79 00:05:12,839 --> 00:05:15,479 Speaker 1: President Grant found out about it, and he ordered the 80 00:05:15,520 --> 00:05:18,800 Speaker 1: release of millions of dollars of gold to be made 81 00:05:18,839 --> 00:05:22,799 Speaker 1: available on the market, and that caused prices to crash. 82 00:05:22,960 --> 00:05:26,960 Speaker 1: Suddenly there was way more supply, and this crash ended 83 00:05:27,000 --> 00:05:30,640 Speaker 1: up affecting the stock market as well. However, this was 84 00:05:30,680 --> 00:05:34,320 Speaker 1: a moment of acute pain. It was a sharp depth 85 00:05:34,720 --> 00:05:38,400 Speaker 1: in the stock market, thus the name Black Friday, but 86 00:05:38,680 --> 00:05:41,200 Speaker 1: in the long termment that the nation was actually able 87 00:05:41,240 --> 00:05:45,120 Speaker 1: to avoid a more persistent depression, so it ended up 88 00:05:45,120 --> 00:05:48,440 Speaker 1: turning out better than it otherwise would have. The earliest 89 00:05:48,520 --> 00:05:51,719 Speaker 1: known reference to the day after things Giving being Black 90 00:05:51,760 --> 00:05:56,520 Speaker 1: Friday dates to nineteen fifty one from a periodical titled 91 00:05:56,960 --> 00:06:02,039 Speaker 1: Factory Management and Maintenance that it was a real page turner, 92 00:06:02,640 --> 00:06:06,719 Speaker 1: But in that article, the author was describing this tendency 93 00:06:06,760 --> 00:06:10,719 Speaker 1: for workers to call in sick the day after Thanksgiving, 94 00:06:11,279 --> 00:06:13,359 Speaker 1: and really they were just trying to make a long 95 00:06:13,440 --> 00:06:16,760 Speaker 1: weekend out of the holiday, because at that time it 96 00:06:16,880 --> 00:06:20,479 Speaker 1: was not commonplace for most businesses to close down on 97 00:06:20,520 --> 00:06:25,320 Speaker 1: both Thursday, the day of Thanksgiving, and Friday. So this 98 00:06:25,360 --> 00:06:30,039 Speaker 1: piece was sort of sardonically comparing the malaise being felt 99 00:06:30,080 --> 00:06:33,760 Speaker 1: by workers across the nation to the Bubonic plague also 100 00:06:33,839 --> 00:06:37,520 Speaker 1: known as the Black Death. Everyone would just mysteriously be 101 00:06:38,160 --> 00:06:41,960 Speaker 1: sick that Friday and not show up to work. It 102 00:06:42,000 --> 00:06:44,960 Speaker 1: would take another decade before we would see the name 103 00:06:45,040 --> 00:06:49,760 Speaker 1: Black Friday associated with shopping for the day after Thanksgiving. 104 00:06:50,279 --> 00:06:54,200 Speaker 1: This would come out of Philadelphia, Pennsylvania. The local police 105 00:06:54,200 --> 00:06:57,920 Speaker 1: force there would refer to that Friday and that Saturday 106 00:06:58,120 --> 00:07:01,680 Speaker 1: following Thanksgiving US both Black Frida Day and Black Saturday. 107 00:07:01,680 --> 00:07:04,720 Speaker 1: This was because those two days had become the busiest 108 00:07:04,880 --> 00:07:09,280 Speaker 1: shopping days of the year. Thanksgiving leads into the holiday season, 109 00:07:09,800 --> 00:07:13,320 Speaker 1: and in post World War two America, the holiday season 110 00:07:13,880 --> 00:07:17,680 Speaker 1: was beginning to be associated and has been since with 111 00:07:17,880 --> 00:07:21,920 Speaker 1: lots of material gifts. Consumerism was on the rise. A 112 00:07:21,960 --> 00:07:25,400 Speaker 1: lot of people had a lot more discretionary income and 113 00:07:25,480 --> 00:07:28,360 Speaker 1: a desire to spend it. So the police referred to 114 00:07:28,440 --> 00:07:32,400 Speaker 1: Friday and Saturday as Black Friday and Black Saturday because 115 00:07:32,760 --> 00:07:36,040 Speaker 1: of the headaches that came along with all that busy shopping, 116 00:07:36,200 --> 00:07:40,440 Speaker 1: mostly in the form of stuff like traffic problems and shoplifting, 117 00:07:40,800 --> 00:07:44,400 Speaker 1: Plus the fact that this rise in activity meant it 118 00:07:44,440 --> 00:07:47,560 Speaker 1: was virtually impossible to get the day off. If you 119 00:07:47,600 --> 00:07:50,400 Speaker 1: were a Philadelphia cop and you would probably have to 120 00:07:50,440 --> 00:07:54,160 Speaker 1: put in an extra long shift to boot, so they 121 00:07:54,160 --> 00:07:57,520 Speaker 1: didn't really like it. Now, in the nineteen eighties, a 122 00:07:57,680 --> 00:08:01,440 Speaker 1: new version of the history of Black Friday popped up, 123 00:08:01,880 --> 00:08:05,680 Speaker 1: and this version claimed that the name Black Friday stemmed 124 00:08:05,720 --> 00:08:08,760 Speaker 1: from the fact that it was on that day that 125 00:08:08,880 --> 00:08:13,000 Speaker 1: many merchants would finally see their annual figures show a profit. 126 00:08:13,480 --> 00:08:17,320 Speaker 1: The idea was that the enormous amount of business on 127 00:08:17,400 --> 00:08:20,920 Speaker 1: that Friday would take businesses from operating at a loss 128 00:08:21,320 --> 00:08:24,680 Speaker 1: or operating in the red in other words, and pushed 129 00:08:24,760 --> 00:08:29,760 Speaker 1: them toward profitability or operating in the black. Thus black Friday. 130 00:08:29,840 --> 00:08:32,560 Speaker 1: Now that refers to the practice of denoting losses or 131 00:08:32,679 --> 00:08:36,800 Speaker 1: negative numbers in a ledger using red ink and positive 132 00:08:36,880 --> 00:08:40,719 Speaker 1: numbers using black ink. And while that's a cute story, 133 00:08:40,880 --> 00:08:45,160 Speaker 1: it's not, you know, real. In fact, a lot of 134 00:08:45,200 --> 00:08:49,240 Speaker 1: stores see more sales on the Saturday before Christmas because 135 00:08:49,360 --> 00:08:55,960 Speaker 1: lots of Americans are procrastinators. But this fictional history of 136 00:08:56,040 --> 00:08:59,080 Speaker 1: the origin of Black Friday took hold in the American 137 00:08:59,160 --> 00:09:02,720 Speaker 1: psyche had to go along with it. Stores began holding 138 00:09:02,800 --> 00:09:07,160 Speaker 1: big sales to bring more and more shoppers into their stores, 139 00:09:07,679 --> 00:09:10,880 Speaker 1: and this strategy worked, and every year we would see 140 00:09:11,240 --> 00:09:14,200 Speaker 1: more efforts to make it even bigger with stuff like 141 00:09:14,320 --> 00:09:19,000 Speaker 1: door buster offers, so called because those sales offer seemingly 142 00:09:19,120 --> 00:09:24,000 Speaker 1: huge discounts right at opening hours and are typically those 143 00:09:24,440 --> 00:09:28,680 Speaker 1: those figures, those those amounts, those discounts are only available 144 00:09:28,800 --> 00:09:32,040 Speaker 1: for a very short time, or the inventory for those 145 00:09:32,080 --> 00:09:34,880 Speaker 1: products is so small that the store will no doubt 146 00:09:34,960 --> 00:09:38,800 Speaker 1: sell out within minutes of opening, or both in many cases. 147 00:09:39,400 --> 00:09:42,600 Speaker 1: So often these sales are tied to an effort to 148 00:09:42,640 --> 00:09:46,120 Speaker 1: move older merchandise out of stores to make way for 149 00:09:46,200 --> 00:09:50,200 Speaker 1: newer products. So stuff like electronics, particularly big ticket items 150 00:09:50,240 --> 00:09:54,319 Speaker 1: like televisions or small appliances, tend to take up some space, 151 00:09:54,640 --> 00:09:57,840 Speaker 1: and manufacturers want to come out with new models every year, 152 00:09:58,360 --> 00:10:02,960 Speaker 1: and according to H. Tam Burakowski of Wirecutter, large appliances 153 00:10:03,600 --> 00:10:07,200 Speaker 1: are kind of a an exception. You rarely see big 154 00:10:07,280 --> 00:10:11,359 Speaker 1: significant markdowns on large appliances, but small appliances and televisions, 155 00:10:11,360 --> 00:10:14,360 Speaker 1: which can get pretty darn big these days, they can 156 00:10:14,360 --> 00:10:17,400 Speaker 1: get marked off quite a bit, and mostly in order 157 00:10:17,400 --> 00:10:20,400 Speaker 1: to make room for new models. Black Friday opened up 158 00:10:20,400 --> 00:10:23,480 Speaker 1: a chance for stores to offload older stuff, perhaps at 159 00:10:23,480 --> 00:10:27,520 Speaker 1: a discount, after sales had slowed down considerably. So By 160 00:10:27,600 --> 00:10:30,720 Speaker 1: the nineteen eighties, Black Friday was established as the formal 161 00:10:30,840 --> 00:10:34,760 Speaker 1: beginning of the holiday shopping season, and while some online 162 00:10:34,800 --> 00:10:39,600 Speaker 1: service providers like compu Serve would introduce online shopping in 163 00:10:39,640 --> 00:10:43,959 Speaker 1: the nineteen eighties, it was a far distant second to 164 00:10:44,160 --> 00:10:48,240 Speaker 1: shopping in physical stores. It had barely registered. It really 165 00:10:48,760 --> 00:10:52,760 Speaker 1: wasn't until the mid nineteen nineties when Netscape one point 166 00:10:52,840 --> 00:10:57,480 Speaker 1: oh incorporated the Secure Socket Layer Protocol the SSL protocol. 167 00:10:58,360 --> 00:11:02,240 Speaker 1: That's when online transaction could be considered truly secure for 168 00:11:02,280 --> 00:11:05,880 Speaker 1: the first time. That led to the possibility of turning 169 00:11:05,880 --> 00:11:10,359 Speaker 1: the Internet and specifically the Web, into a commerce destination. 170 00:11:10,840 --> 00:11:14,800 Speaker 1: Sites like Amazon and eBay helped usher in a new 171 00:11:14,920 --> 00:11:19,199 Speaker 1: era of commerce, making it practical and then desirable to 172 00:11:19,320 --> 00:11:23,000 Speaker 1: shop online. While those two sites saw a lot of success, 173 00:11:23,400 --> 00:11:26,120 Speaker 1: the early days of e commerce also saw a lot 174 00:11:26,160 --> 00:11:29,240 Speaker 1: of businesses rush into that space without really forming a 175 00:11:29,280 --> 00:11:32,720 Speaker 1: strategy around it. After the dust would settle in the 176 00:11:32,760 --> 00:11:35,800 Speaker 1: wake of the dot com bubble implosion in the early 177 00:11:35,840 --> 00:11:38,680 Speaker 1: two thousand's, companies began to take a more measured approach 178 00:11:38,720 --> 00:11:41,320 Speaker 1: and e commerce started to come into its own. In 179 00:11:41,400 --> 00:11:45,560 Speaker 1: two thousand five, a marketing team led by Ellen Davis 180 00:11:45,840 --> 00:11:49,679 Speaker 1: at a company called shop dot Org introduced the concept 181 00:11:49,840 --> 00:11:53,760 Speaker 1: of cyber Monday. This would be e commerce's response to 182 00:11:53,840 --> 00:11:57,679 Speaker 1: Black Friday, the sales pitch road itself. Why would you 183 00:11:57,760 --> 00:12:01,719 Speaker 1: leave your comfortable home and brave potentially bad weather and 184 00:12:01,800 --> 00:12:05,480 Speaker 1: guaranteed terrible traffic to fight your way into a store 185 00:12:05,840 --> 00:12:08,080 Speaker 1: only to find out that the thing you wanted to 186 00:12:08,120 --> 00:12:12,560 Speaker 1: buy has already sold out. Why risk getting hurt or 187 00:12:12,679 --> 00:12:18,280 Speaker 1: worse as single minded consumers shove and elbow and kick 188 00:12:18,440 --> 00:12:21,680 Speaker 1: their way to get the last tickle me Elmo doll 189 00:12:21,840 --> 00:12:24,200 Speaker 1: or whatever must have items happened to be on sale 190 00:12:24,200 --> 00:12:28,760 Speaker 1: that year. Why not instead sit at home and order 191 00:12:28,840 --> 00:12:32,600 Speaker 1: your holiday gifts online and have them either delivered to 192 00:12:32,640 --> 00:12:35,880 Speaker 1: you or even to the people you plan to give 193 00:12:35,920 --> 00:12:38,240 Speaker 1: gifts to. You take out the whole step of having 194 00:12:38,240 --> 00:12:42,880 Speaker 1: to take the gifts to the people. Cyber Monday was born. 195 00:12:43,360 --> 00:12:46,360 Speaker 1: I'll explain more in just a moment, but first let's 196 00:12:46,400 --> 00:12:56,480 Speaker 1: take a quick break to thank our sponsor. Now, the 197 00:12:56,559 --> 00:13:00,360 Speaker 1: concept of cyber Monday didn't just arrive out of the blue. 198 00:13:00,760 --> 00:13:03,560 Speaker 1: For a few years, leading up to two thousand five, 199 00:13:04,240 --> 00:13:09,360 Speaker 1: analysts had seen a boost and online line sales on 200 00:13:09,360 --> 00:13:13,160 Speaker 1: the Monday following Black Friday, they had seen this trend happening. 201 00:13:13,679 --> 00:13:16,600 Speaker 1: So maybe some people were late to the game and 202 00:13:16,640 --> 00:13:19,120 Speaker 1: they weren't able to land a deal on Black Friday. 203 00:13:19,320 --> 00:13:22,000 Speaker 1: Maybe some of them weren't able to get hold of 204 00:13:22,040 --> 00:13:25,000 Speaker 1: that must have item in a physical store, so now 205 00:13:25,040 --> 00:13:28,240 Speaker 1: they were looking online. But whatever the reason, by two 206 00:13:28,240 --> 00:13:31,960 Speaker 1: thousand five, Cyber Monday was one of the busier online 207 00:13:32,000 --> 00:13:35,800 Speaker 1: shopping days of the year, but not the busiest, in fact, 208 00:13:36,040 --> 00:13:38,720 Speaker 1: not even in the top ten. By two thousand five, 209 00:13:38,760 --> 00:13:42,200 Speaker 1: it was more like the twelfth most popular shopping day 210 00:13:42,280 --> 00:13:46,720 Speaker 1: online at that point. But the Cyber Monday marketing idea 211 00:13:46,960 --> 00:13:50,760 Speaker 1: would change that. So the media, here's about this idea 212 00:13:50,920 --> 00:13:54,360 Speaker 1: in two thousand five, and they jump all over this 213 00:13:54,480 --> 00:13:59,079 Speaker 1: concept of Cyber Monday. And this is no surprise. News 214 00:13:59,080 --> 00:14:02,880 Speaker 1: about sales tends to get a lot of attention, whether 215 00:14:03,120 --> 00:14:07,360 Speaker 1: it's in print, audio, or television spots. You've probably seen 216 00:14:07,559 --> 00:14:11,400 Speaker 1: countless articles and videos that lists the biggest Black Friday 217 00:14:11,600 --> 00:14:14,800 Speaker 1: or Cyber Monday deals. There's a whole industry around this. 218 00:14:15,440 --> 00:14:18,640 Speaker 1: There are groups that start putting out information about it 219 00:14:18,960 --> 00:14:22,520 Speaker 1: before November even starts to talk about the big Black 220 00:14:22,560 --> 00:14:25,480 Speaker 1: Friday or Cyber Monday deals that are coming down the line, 221 00:14:26,040 --> 00:14:30,360 Speaker 1: so media outlets were highly motivated to take this new 222 00:14:30,440 --> 00:14:34,360 Speaker 1: concept and to run with it. Online retailers would get 223 00:14:34,360 --> 00:14:38,320 Speaker 1: on board too, because the media coverage amounted to free publicity, 224 00:14:38,400 --> 00:14:41,680 Speaker 1: and they started to see their sales increase. So two 225 00:14:41,680 --> 00:14:45,080 Speaker 1: thousand five was a good start. Analysts estimated the online 226 00:14:45,120 --> 00:14:48,720 Speaker 1: retailers saw about four d eight four million dollars in 227 00:14:48,800 --> 00:14:53,760 Speaker 1: sales collectively on that Monday that year. But the retailers 228 00:14:53,800 --> 00:14:56,400 Speaker 1: would prepare themselves to really push for it in a 229 00:14:56,440 --> 00:15:00,840 Speaker 1: big way in the years to follow. By creating promotions 230 00:15:01,280 --> 00:15:05,480 Speaker 1: and sales tied to this concept of cyber Monday, they 231 00:15:05,480 --> 00:15:11,239 Speaker 1: could actually increase sales dramatically over a typical shopping day online. 232 00:15:12,200 --> 00:15:16,440 Speaker 1: In two thousand and six, CNN ran a story that 233 00:15:16,600 --> 00:15:20,920 Speaker 1: pointed out that certain sought after items were being really 234 00:15:20,960 --> 00:15:24,720 Speaker 1: scarce in brick and mortar stores but were available online. 235 00:15:25,080 --> 00:15:30,240 Speaker 1: The article had the title for e tailors, It's Cyber Monday, 236 00:15:30,280 --> 00:15:33,640 Speaker 1: and it had a subheadline that said traffic tracking services 237 00:15:33,960 --> 00:15:38,440 Speaker 1: showed a fifty increase in Internet traffic at various online 238 00:15:38,480 --> 00:15:42,360 Speaker 1: commerce sites on that Monday. The sought after items included 239 00:15:42,400 --> 00:15:47,160 Speaker 1: stuff like the PlayStation three gaming console from Sony Nintendo's 240 00:15:47,280 --> 00:15:52,040 Speaker 1: we gaming console and the aforementioned Elmo, though this one 241 00:15:52,160 --> 00:15:55,280 Speaker 1: was the Tickle Me Elmo t m X. And by 242 00:15:55,360 --> 00:15:58,440 Speaker 1: the way, just as a side note, I actually watched 243 00:15:58,520 --> 00:16:02,320 Speaker 1: a video of that Mo toy for this podcast because 244 00:16:02,360 --> 00:16:05,960 Speaker 1: I'm nothing if not thorough in my research, and I 245 00:16:06,000 --> 00:16:08,120 Speaker 1: didn't remember this toy. That's why I was like, what 246 00:16:08,360 --> 00:16:11,200 Speaker 1: is the tickle Me Elmo TMX? How is that different 247 00:16:11,280 --> 00:16:13,240 Speaker 1: from the Tickle Me Elmo, which was a doll that 248 00:16:13,240 --> 00:16:17,560 Speaker 1: would laugh and vibrate like crazy whenever you activated it. 249 00:16:18,000 --> 00:16:22,480 Speaker 1: So in the video, I saw Elmo as a toy 250 00:16:22,560 --> 00:16:26,280 Speaker 1: that could stand up is actually standing, and you would 251 00:16:26,280 --> 00:16:29,720 Speaker 1: activate it by pressing certain points on the doll and 252 00:16:29,760 --> 00:16:32,440 Speaker 1: it would start to laugh and it moves its arms 253 00:16:32,520 --> 00:16:35,280 Speaker 1: and eventually it bends over like it's laughing so hard 254 00:16:35,320 --> 00:16:38,160 Speaker 1: it can't stand up straight. It falls over onto the ground, 255 00:16:38,560 --> 00:16:40,680 Speaker 1: and then ultimately at the end of this it stands 256 00:16:40,720 --> 00:16:43,640 Speaker 1: itself back up. The best part about this story is 257 00:16:43,840 --> 00:16:47,080 Speaker 1: while I was watching this, my coworker Noel Brown, who's 258 00:16:47,080 --> 00:16:49,760 Speaker 1: one of the hosts of Ridiculous History, walked up behind 259 00:16:49,800 --> 00:16:52,360 Speaker 1: me and he asked me what the heck was I watching. 260 00:16:52,800 --> 00:16:55,200 Speaker 1: Although he didn't use those words. He he was a 261 00:16:55,200 --> 00:16:59,000 Speaker 1: bit more coarse in his language, but upon explaining it, 262 00:16:59,040 --> 00:17:01,480 Speaker 1: he shook his head and walked away. That's the typical 263 00:17:01,480 --> 00:17:04,480 Speaker 1: response I get here at the office. In two thousand seven, 264 00:17:04,520 --> 00:17:09,680 Speaker 1: online sales were up to seven hundred thirty million dollars. Then, 265 00:17:09,800 --> 00:17:13,280 Speaker 1: in December two thousand seven, the United States entered what 266 00:17:13,359 --> 00:17:17,040 Speaker 1: was later called the Great Recession. This was when the 267 00:17:17,080 --> 00:17:20,960 Speaker 1: real estate market collapsed, which in turn made mortgage backed 268 00:17:21,080 --> 00:17:25,120 Speaker 1: securities issued by banks to fall in value dramatically, and 269 00:17:25,160 --> 00:17:29,160 Speaker 1: that in turn threatened the solvency of various financial institutions 270 00:17:29,160 --> 00:17:32,359 Speaker 1: like those banks, that led to the government bailouts of 271 00:17:32,440 --> 00:17:36,480 Speaker 1: banks and businesses began laying off workers and eliminating jobs. 272 00:17:36,560 --> 00:17:39,879 Speaker 1: It doubled the unemployment rate in the United States until 273 00:17:39,960 --> 00:17:43,280 Speaker 1: it hit ten. Now, the reason I mentioned all of 274 00:17:43,320 --> 00:17:50,200 Speaker 1: that is because, despite this economic downturn, online retailers would 275 00:17:50,280 --> 00:17:54,280 Speaker 1: see a year over year increase in sales from two 276 00:17:54,280 --> 00:17:57,400 Speaker 1: thousand seven to two thousand eight two thousand seven seven 277 00:17:57,680 --> 00:18:01,959 Speaker 1: thirty million dollars two thousand eight, eight hundred forty six 278 00:18:02,080 --> 00:18:06,439 Speaker 1: million dollars despite the economic downturn. Now, one possible reason 279 00:18:06,920 --> 00:18:10,080 Speaker 1: for the higher number is that people weren't just looking 280 00:18:10,119 --> 00:18:12,640 Speaker 1: for a good deal in two thousand eight, they needed 281 00:18:12,960 --> 00:18:15,919 Speaker 1: good deals. People still wanted to buy presents for friends 282 00:18:15,920 --> 00:18:18,880 Speaker 1: and family, but money was tight, so sales were more 283 00:18:18,880 --> 00:18:22,920 Speaker 1: important than ever. An online seemed to give the biggest 284 00:18:23,560 --> 00:18:27,000 Speaker 1: access to those sales. The holiday season in two thousand 285 00:18:27,080 --> 00:18:31,240 Speaker 1: eight also saw a rising battle between traditional retailer Walmart 286 00:18:31,760 --> 00:18:35,760 Speaker 1: and online giant Amazon. Amazon would take the number one 287 00:18:35,920 --> 00:18:40,320 Speaker 1: spot according to traffic tracking services, with an increase of 288 00:18:40,359 --> 00:18:45,600 Speaker 1: twenty one more traffic year over year. Walmart, by comparison, 289 00:18:45,960 --> 00:18:50,600 Speaker 1: only saw a six percent increase. More importantly, for Amazon, 290 00:18:51,080 --> 00:18:54,800 Speaker 1: it became the most popular online destination for commerce on 291 00:18:54,960 --> 00:18:58,480 Speaker 1: Cyber Monday. In two thousand nine, com Score, which is 292 00:18:58,640 --> 00:19:01,719 Speaker 1: a data analysis firm, published a report that said forty 293 00:19:01,720 --> 00:19:05,080 Speaker 1: one point six percent of all online shoppers were logging 294 00:19:05,080 --> 00:19:08,919 Speaker 1: in from home, but fifty two point nine we're logging 295 00:19:08,960 --> 00:19:12,359 Speaker 1: in from work. So maybe that don't want to go 296 00:19:12,480 --> 00:19:18,000 Speaker 1: to work itis bubonic plague that prompted that initial article 297 00:19:18,119 --> 00:19:20,880 Speaker 1: that gave us the term Black Friday for the day 298 00:19:20,960 --> 00:19:25,280 Speaker 1: after Thanksgiving, maybe that now extends to everyone on the 299 00:19:25,320 --> 00:19:28,359 Speaker 1: following Monday. They might be at work, but instead of 300 00:19:28,400 --> 00:19:31,520 Speaker 1: actually working, they could be scouring the Internet for the 301 00:19:31,520 --> 00:19:34,800 Speaker 1: best deals in lowest prices, same as it ever was. 302 00:19:34,840 --> 00:19:39,320 Speaker 1: I guess Walmart would strike back against Amazon in two 303 00:19:39,320 --> 00:19:44,479 Speaker 1: thousand nine when when it announced cyber Week and set 304 00:19:44,520 --> 00:19:48,639 Speaker 1: the chorus for things as they are now. This extended 305 00:19:48,680 --> 00:19:52,040 Speaker 1: the sales that Walmart was showing off for a full 306 00:19:52,080 --> 00:19:56,240 Speaker 1: week following Thanksgiving. That would prompt other retailers to follow 307 00:19:56,280 --> 00:20:00,640 Speaker 1: suit in and would also be when Cyber Monday would 308 00:20:00,680 --> 00:20:04,399 Speaker 1: become the busiest online shopping day of the year, and 309 00:20:04,440 --> 00:20:07,280 Speaker 1: it's been that way ever since. Ten was also the 310 00:20:07,320 --> 00:20:12,399 Speaker 1: first year that Cyber Monday sales would top one billion dollars, 311 00:20:12,440 --> 00:20:15,720 Speaker 1: But just to put things into perspective, that same year 312 00:20:16,040 --> 00:20:19,439 Speaker 1: saw shoppers visit real world stores to the tune of 313 00:20:19,560 --> 00:20:24,560 Speaker 1: ten point seven billion dollars in sales. So Cyber Monday 314 00:20:24,600 --> 00:20:26,840 Speaker 1: was a big success, but it was still trailing far 315 00:20:26,920 --> 00:20:31,879 Speaker 1: behind Black Friday and traditional stores. The next year in 316 00:20:33,040 --> 00:20:37,120 Speaker 1: c NBC rather predictably reported that Black Friday and Cyber 317 00:20:37,160 --> 00:20:42,480 Speaker 1: Monday had effectively gloamed together to create this mutated beast 318 00:20:42,680 --> 00:20:45,840 Speaker 1: of a long shopping weekend, and we were starting to 319 00:20:45,880 --> 00:20:50,159 Speaker 1: see sales extend further out in both directions. From Black Friday. 320 00:20:50,240 --> 00:20:53,040 Speaker 1: While this also had the effect of cannibalizing some of 321 00:20:53,080 --> 00:20:57,120 Speaker 1: the sales on Friday and Monday themselves, Ultimately, I'm pretty 322 00:20:57,160 --> 00:21:00,679 Speaker 1: sure merchants don't really care when they're link stuff. They 323 00:21:00,720 --> 00:21:03,080 Speaker 1: just care if they are selling it and how much 324 00:21:03,119 --> 00:21:06,359 Speaker 1: they're able to sell. In two thousand twelve, we would 325 00:21:06,359 --> 00:21:09,919 Speaker 1: see another shift in consumer behavior, one that would shape 326 00:21:09,960 --> 00:21:15,199 Speaker 1: the way retailers would target customers. More shoppers, nearly twenty 327 00:21:15,600 --> 00:21:19,240 Speaker 1: of them, began to use smartphones to look at cyber deals. 328 00:21:19,680 --> 00:21:22,960 Speaker 1: This was a twelve increase from the previous year and 329 00:21:23,000 --> 00:21:26,919 Speaker 1: also an indication that mobile browsing was the future. And this, 330 00:21:27,040 --> 00:21:30,639 Speaker 1: by the way, was something the entire online content world 331 00:21:30,720 --> 00:21:34,320 Speaker 1: was starting to realize. Right around this point. Anyone who 332 00:21:34,320 --> 00:21:37,440 Speaker 1: worked in that world, such as yours, truly was starting 333 00:21:37,480 --> 00:21:41,760 Speaker 1: to think about ways to optimize content for the mobile experience. 334 00:21:42,080 --> 00:21:44,800 Speaker 1: It was clear that companies that could make their online 335 00:21:44,840 --> 00:21:47,760 Speaker 1: experience a positive one, no matter what sort of device 336 00:21:47,920 --> 00:21:50,800 Speaker 1: someone might use to access it, would be well ahead 337 00:21:50,800 --> 00:21:54,320 Speaker 1: of the game. That included e commerce sites, which began 338 00:21:54,359 --> 00:21:57,879 Speaker 1: to invest more money in creating user interfaces for their stores, 339 00:21:58,200 --> 00:22:03,359 Speaker 1: specifically for smartphones. In all, consumers spent one point four 340 00:22:03,520 --> 00:22:08,480 Speaker 1: six five billion dollars in online shopping on Cyber Monday. 341 00:22:08,520 --> 00:22:12,720 Speaker 1: In two thousand twelve, Electronics, computer hardware, and video games 342 00:22:12,760 --> 00:22:16,680 Speaker 1: all experienced huge jumps in sales gains year over year, 343 00:22:17,040 --> 00:22:20,919 Speaker 1: but the top performing category according to com Score was 344 00:22:20,960 --> 00:22:25,359 Speaker 1: in digital content and subscriptions. Also by two thousand twelve, 345 00:22:25,720 --> 00:22:28,720 Speaker 1: there was a pretty much even split between people buying 346 00:22:28,760 --> 00:22:31,280 Speaker 1: stuff while surfing the web from home and those who 347 00:22:31,280 --> 00:22:34,240 Speaker 1: were still on the clock at work. In two thousand thirteen, 348 00:22:34,560 --> 00:22:37,679 Speaker 1: fashion websites began to finally get in on this Cyber 349 00:22:37,760 --> 00:22:41,480 Speaker 1: Monday game. Clothing retailers like Old Navy started to launch 350 00:22:41,560 --> 00:22:44,920 Speaker 1: their own Cyber Monday deals, taking advantage of the same 351 00:22:44,960 --> 00:22:48,520 Speaker 1: shopping frenzy as other retailers. And this actually reminds us 352 00:22:48,560 --> 00:22:51,560 Speaker 1: that one of the values of these days, both Black 353 00:22:51,560 --> 00:22:54,600 Speaker 1: Friday and of Cyber Monday to retailers, in large part 354 00:22:55,240 --> 00:22:57,879 Speaker 1: is due to the fact that we as consumers have 355 00:22:58,000 --> 00:23:01,800 Speaker 1: been conditioned to shop on those days. So many people 356 00:23:01,840 --> 00:23:05,159 Speaker 1: are already in a mindset to go out there and 357 00:23:05,200 --> 00:23:08,480 Speaker 1: get ready to buy stuff, and by leveraging that from 358 00:23:08,480 --> 00:23:11,360 Speaker 1: the retail side and pairing a good deal or two 359 00:23:11,440 --> 00:23:14,160 Speaker 1: to take advantage of it wherever you can just makes 360 00:23:14,240 --> 00:23:18,200 Speaker 1: really good business sense. In two thousand fifteen, Target announced 361 00:23:18,240 --> 00:23:21,440 Speaker 1: it was offering up a fifteen percent discount across all 362 00:23:21,520 --> 00:23:24,840 Speaker 1: of Target dot com for Cyber Monday, showing that the 363 00:23:24,880 --> 00:23:28,359 Speaker 1: big retail businesses were really playing serious at this point 364 00:23:28,720 --> 00:23:33,080 Speaker 1: and in things would really go crazy as the concept 365 00:23:33,080 --> 00:23:36,679 Speaker 1: of cyber Week took hold for more retailers. I'll explain 366 00:23:36,720 --> 00:23:38,879 Speaker 1: more in just a moment, but first let's take another 367 00:23:38,960 --> 00:23:50,439 Speaker 1: quick break to thank our sponsor so In. According to 368 00:23:50,680 --> 00:23:56,160 Speaker 1: com Score, retailers saw eleven billion dollars in sales during 369 00:23:56,240 --> 00:24:00,240 Speaker 1: cyber Week. Now that started on Monday, November and it 370 00:24:00,359 --> 00:24:04,320 Speaker 1: ended on December four. Cyber Monday itself accounted for nearly 371 00:24:04,359 --> 00:24:08,280 Speaker 1: two point seven billion dollars in sales all alone. And 372 00:24:08,320 --> 00:24:12,040 Speaker 1: not only that, but starting on Thanksgiving Day, e commerce 373 00:24:12,160 --> 00:24:16,760 Speaker 1: sites collectively saw more than one billion dollars of sales 374 00:24:16,840 --> 00:24:21,720 Speaker 1: every day for eleven days straight. It drove the holiday 375 00:24:21,800 --> 00:24:25,200 Speaker 1: season sales, which combs scored defined as starting on November 376 00:24:25,240 --> 00:24:29,359 Speaker 1: one and indian on December four, to achieve nearly thirty 377 00:24:29,400 --> 00:24:35,600 Speaker 1: eight billion dollars in sales. That's a ton of money. Also, 378 00:24:35,640 --> 00:24:39,200 Speaker 1: in twenty sixteen, one two million people in the United 379 00:24:39,200 --> 00:24:43,520 Speaker 1: States did some online shopping on Cyber Monday, but on 380 00:24:43,640 --> 00:24:48,680 Speaker 1: Black Friday only one hundred sixteen million Americans did any shopping, 381 00:24:49,320 --> 00:24:52,239 Speaker 1: and that includes sixty seven point nine million people who 382 00:24:52,320 --> 00:24:56,399 Speaker 1: were doing online shopping. So in twenty sixteen, Cyber Monday 383 00:24:56,800 --> 00:25:01,280 Speaker 1: pulled ahead of Black Friday as the busiest shopping day 384 00:25:01,480 --> 00:25:04,440 Speaker 1: in the United States and all without having to line 385 00:25:04,520 --> 00:25:06,720 Speaker 1: up in front of a store at three in the morning. 386 00:25:07,200 --> 00:25:12,360 Speaker 1: In comm Score reported that consumers spent three point three 387 00:25:12,520 --> 00:25:19,040 Speaker 1: six billion dollars on Cyber Monday from desktop computers, so 388 00:25:19,240 --> 00:25:23,199 Speaker 1: just from desktops. According to the Verge, purchases made from 389 00:25:23,280 --> 00:25:26,760 Speaker 1: mobile devices accounted for another two billion dollars in sales. 390 00:25:27,280 --> 00:25:30,160 Speaker 1: And according to multiple sources, although this doesn't really match 391 00:25:30,240 --> 00:25:34,040 Speaker 1: up with the com Score numbers, the collective Cyber Monday 392 00:25:34,160 --> 00:25:39,000 Speaker 1: sales efforts in seventeen amounted to six point five nine 393 00:25:39,320 --> 00:25:42,560 Speaker 1: billion dollars in sales. Now, if you look at the 394 00:25:42,600 --> 00:25:47,160 Speaker 1: sales figures from Thanksgiving through Cyber Monday, online sales amounted 395 00:25:47,240 --> 00:25:52,600 Speaker 1: to nineteen point six to billion dollars, truly an enormous 396 00:25:52,720 --> 00:25:56,200 Speaker 1: sum of money. Now, according to a survey from National 397 00:25:56,320 --> 00:25:59,919 Speaker 1: Retail Federation as well as a company called prosper Insights 398 00:26:00,000 --> 00:26:04,119 Speaker 1: and Analytics that partnered to make this survey. Fifty eight 399 00:26:04,280 --> 00:26:08,600 Speaker 1: million Americans chose to do their holiday shopping online, only 400 00:26:09,080 --> 00:26:12,879 Speaker 1: fifty one million chose to shop only at physical stores, 401 00:26:13,560 --> 00:26:17,440 Speaker 1: and more than sixty four million Americans did some combination 402 00:26:17,520 --> 00:26:21,080 Speaker 1: of the two. So while online shopping has definitely pulled 403 00:26:21,119 --> 00:26:25,080 Speaker 1: ahead of going to actual brick and mortar stores, there's 404 00:26:25,119 --> 00:26:29,800 Speaker 1: still a place for those physical shops. They are not obsolete. 405 00:26:30,240 --> 00:26:33,760 Speaker 1: People are still shopping there in droves, just they're doing 406 00:26:33,840 --> 00:26:37,640 Speaker 1: it more online. The Wall Street Journal reported that brick 407 00:26:37,680 --> 00:26:40,560 Speaker 1: and mortar stores did see a decrease of about four 408 00:26:40,680 --> 00:26:43,399 Speaker 1: percent in the number of people visiting those stores in 409 00:26:44,760 --> 00:26:48,080 Speaker 1: compared to the same time in TWI so we are 410 00:26:48,200 --> 00:26:51,640 Speaker 1: seeing fewer people going to these stores. It's not quite 411 00:26:51,680 --> 00:26:53,720 Speaker 1: to the point where I would want to try and 412 00:26:53,800 --> 00:26:56,200 Speaker 1: go out on Black Friday. I think there's still way 413 00:26:56,240 --> 00:26:59,199 Speaker 1: too many people out there, but we're getting there now. 414 00:26:59,280 --> 00:27:02,520 Speaker 1: There is a growing concern that by extending these deals 415 00:27:02,600 --> 00:27:06,040 Speaker 1: out from Black Friday and Cyber Monday, the whole Cyber 416 00:27:06,080 --> 00:27:09,040 Speaker 1: week thing, and the Black Friday sales that start two 417 00:27:09,080 --> 00:27:12,320 Speaker 1: weeks before Thanksgiving, that these sales are going to lose 418 00:27:12,400 --> 00:27:15,760 Speaker 1: their luster. And again, part of what drives so much 419 00:27:16,040 --> 00:27:20,439 Speaker 1: sales activity are the limitations around the sales dates. If 420 00:27:20,480 --> 00:27:23,399 Speaker 1: you make items available only for a limited time at 421 00:27:23,440 --> 00:27:26,879 Speaker 1: a lower price, it drives up consumer interest and it 422 00:27:27,080 --> 00:27:30,680 Speaker 1: encourages shopping. You just introduced that idea in a customer's 423 00:27:30,760 --> 00:27:33,600 Speaker 1: head that the thing that kind of sort of wanted 424 00:27:34,359 --> 00:27:36,200 Speaker 1: is only going to be at a discounted price for 425 00:27:36,280 --> 00:27:38,600 Speaker 1: a short while, and then you're more likely to move 426 00:27:38,680 --> 00:27:42,320 Speaker 1: them to actually buy that thing. But if you extend 427 00:27:42,400 --> 00:27:45,960 Speaker 1: the sale out, you make it less special. You dilute 428 00:27:46,160 --> 00:27:49,280 Speaker 1: that effect to some extent, and the danger is that 429 00:27:49,440 --> 00:27:52,680 Speaker 1: ultimately you'll start to see sales slow down or worse yet, 430 00:27:52,880 --> 00:27:57,480 Speaker 1: decline as a result, because people don't feel compelled to 431 00:27:57,600 --> 00:28:00,920 Speaker 1: go out and buy that thing because it's been marked down. 432 00:28:01,600 --> 00:28:04,720 Speaker 1: As for what is driving the popularity of online shopping, 433 00:28:05,200 --> 00:28:08,320 Speaker 1: a lot of it is opportunity. More people have access 434 00:28:08,359 --> 00:28:11,200 Speaker 1: to getting online than ever before, and for many people, 435 00:28:11,760 --> 00:28:14,600 Speaker 1: working at a computer is part of their job, so 436 00:28:15,520 --> 00:28:18,840 Speaker 1: they can easily access these deals whether they're at work 437 00:28:18,960 --> 00:28:21,800 Speaker 1: or at home. For other people, a smartphone and a 438 00:28:21,880 --> 00:28:23,600 Speaker 1: credit card is really all they need to get some 439 00:28:23,720 --> 00:28:27,400 Speaker 1: shopping in, so even if employees are limiting their online 440 00:28:27,440 --> 00:28:31,080 Speaker 1: shopping to just times when they're on break and they're 441 00:28:31,119 --> 00:28:34,160 Speaker 1: not actually trying to snag a deal on the company dime. 442 00:28:34,800 --> 00:28:37,560 Speaker 1: You would still expect to see growth in this field, 443 00:28:37,640 --> 00:28:41,320 Speaker 1: just because we're seeing more penetration in computer access and 444 00:28:41,400 --> 00:28:46,520 Speaker 1: internet access. The National Retail Federation predicts that in retailers 445 00:28:46,560 --> 00:28:49,160 Speaker 1: will see an increase in sales between four point three 446 00:28:49,240 --> 00:28:53,080 Speaker 1: percent and four point eight percent. That's actually a step 447 00:28:53,240 --> 00:28:56,160 Speaker 1: down from the increase in twenty seventeen that was at 448 00:28:56,200 --> 00:29:00,320 Speaker 1: five point five percent. Over the figures, but it still 449 00:29:00,400 --> 00:29:03,920 Speaker 1: means that we're going to see more sales this year, 450 00:29:04,360 --> 00:29:07,120 Speaker 1: and it would mean that the entire holiday season, not 451 00:29:07,280 --> 00:29:10,280 Speaker 1: just Black Friday and Cyber Monday, but during the course 452 00:29:10,400 --> 00:29:14,240 Speaker 1: of the holiday season, we will see sales between seven 453 00:29:14,560 --> 00:29:20,040 Speaker 1: hundred seventeen point five billion dollars and seven twenty point 454 00:29:20,280 --> 00:29:25,480 Speaker 1: nine billion dollars, getting close to a trillion dollars in 455 00:29:25,640 --> 00:29:30,280 Speaker 1: sales over the holiday season. That is crazy. So now 456 00:29:30,400 --> 00:29:33,200 Speaker 1: let's get down to brass tacks. How do you find 457 00:29:33,280 --> 00:29:37,320 Speaker 1: good deals? Well, like I mentioned earlier, deals are happening 458 00:29:37,440 --> 00:29:41,760 Speaker 1: before and after Black Friday and Cyber Monday, so those 459 00:29:41,840 --> 00:29:45,040 Speaker 1: days don't really matter as much in the grand scheme 460 00:29:45,080 --> 00:29:48,080 Speaker 1: of things. By the time you are listening to this episode, 461 00:29:48,280 --> 00:29:52,040 Speaker 1: on the day that it publishes, deals are already going on. 462 00:29:52,600 --> 00:29:55,720 Speaker 1: Amazon typically leads the charge, and I imagine part of 463 00:29:55,840 --> 00:30:00,120 Speaker 1: this strategy is that they're trying to head off all 464 00:30:00,160 --> 00:30:02,280 Speaker 1: the retailers at the past. They're trying to get ahead 465 00:30:02,320 --> 00:30:05,080 Speaker 1: of them, get ahead of Black Friday, because there's a 466 00:30:05,160 --> 00:30:08,120 Speaker 1: limited amount of money out there. Right, Shoppers are only 467 00:30:08,200 --> 00:30:11,880 Speaker 1: going to spend so much this year, so Amazon wants 468 00:30:11,880 --> 00:30:14,719 Speaker 1: to get ahead of all the other deals to get 469 00:30:14,800 --> 00:30:19,640 Speaker 1: as much of those dollars as it possibly can. That's 470 00:30:19,720 --> 00:30:23,640 Speaker 1: the deal with business, right. Online sales are actually best 471 00:30:24,160 --> 00:30:28,960 Speaker 1: on Thanksgiving Day, typically with an average discount of twenty four. 472 00:30:29,240 --> 00:30:32,880 Speaker 1: Categories of stuff that tends to have the biggest discounts 473 00:30:33,040 --> 00:30:38,080 Speaker 1: on Thanksgiving Day include things like sporting goods, computers, video games, 474 00:30:38,400 --> 00:30:40,920 Speaker 1: and clothing. So if you're shopping for any of those things, 475 00:30:41,520 --> 00:30:44,960 Speaker 1: set aside some time on Turkey Day to pop online 476 00:30:45,000 --> 00:30:47,080 Speaker 1: and check out some deals. But if you want to 477 00:30:47,120 --> 00:30:50,520 Speaker 1: buy something like a television or a tablet, computer, or 478 00:30:50,560 --> 00:30:53,360 Speaker 1: maybe a small appliance, your best bet for the biggest 479 00:30:53,520 --> 00:30:58,440 Speaker 1: discount online is actually Black Friday. Not Cyber Monday, but 480 00:30:58,520 --> 00:30:59,920 Speaker 1: there's no need for you to jump in a call 481 00:31:00,000 --> 00:31:01,960 Speaker 1: are and head to the local mall. You just go online. 482 00:31:02,080 --> 00:31:05,120 Speaker 1: Online sales tend to be best for those items. On 483 00:31:05,200 --> 00:31:09,040 Speaker 1: the old traditional shopping day, Cyber Monday is still great 484 00:31:09,120 --> 00:31:11,480 Speaker 1: for a lot of different deals, but if you're really 485 00:31:11,560 --> 00:31:14,320 Speaker 1: in the market for something new, or you're looking to 486 00:31:14,400 --> 00:31:17,560 Speaker 1: save the most money on gifts Thanksgiving and Black Friday, 487 00:31:17,760 --> 00:31:20,040 Speaker 1: or when you should pop open the computer and hunt 488 00:31:20,080 --> 00:31:22,280 Speaker 1: around a bit. It's also a great idea to do 489 00:31:22,400 --> 00:31:24,600 Speaker 1: some research on the various items that are for sale. 490 00:31:25,000 --> 00:31:28,080 Speaker 1: You might find that the discounted items are ones that 491 00:31:28,680 --> 00:31:32,640 Speaker 1: are not really the best in their class. They might 492 00:31:32,800 --> 00:31:36,640 Speaker 1: lack some interesting features. This happens a lot with television's. 493 00:31:36,760 --> 00:31:39,400 Speaker 1: You'll see a lot of TVs get marked way down. 494 00:31:40,000 --> 00:31:42,320 Speaker 1: Then if you do a little research, you might find out, oh, well, 495 00:31:42,400 --> 00:31:47,000 Speaker 1: that's because that television doesn't have a particularly high resolution 496 00:31:47,440 --> 00:31:50,120 Speaker 1: or it's got a lot of limited features. And then 497 00:31:50,280 --> 00:31:52,720 Speaker 1: you realize, well, yeah, I can buy a television for 498 00:31:52,760 --> 00:31:55,840 Speaker 1: super cheap, but it's not necessarily a good TV. So 499 00:31:55,960 --> 00:31:58,480 Speaker 1: you want to do that research. And just because something 500 00:31:58,560 --> 00:32:01,840 Speaker 1: is being sold at a big count doesn't always mean 501 00:32:01,920 --> 00:32:05,080 Speaker 1: it's worth buying. Also, it's not a bad idea to 502 00:32:05,160 --> 00:32:09,120 Speaker 1: look around to see what the price history was of 503 00:32:09,280 --> 00:32:12,880 Speaker 1: certain items. Every now and then a retailer will mark 504 00:32:13,120 --> 00:32:17,440 Speaker 1: up an item just before a big sale, and that way, 505 00:32:17,800 --> 00:32:20,800 Speaker 1: when they put in the discount, the sale price is 506 00:32:20,960 --> 00:32:25,840 Speaker 1: really not that different from the original price of the item. 507 00:32:26,440 --> 00:32:29,440 Speaker 1: It could be that in October you could have bought 508 00:32:29,520 --> 00:32:33,680 Speaker 1: something for five dollars, and then going into November it 509 00:32:33,720 --> 00:32:36,600 Speaker 1: gets marked up to six dollars, But then the discount 510 00:32:36,680 --> 00:32:39,400 Speaker 1: means that they're selling it for four seventy five dollars, 511 00:32:40,040 --> 00:32:42,640 Speaker 1: So it looks like a bigger discount because the original 512 00:32:42,720 --> 00:32:45,920 Speaker 1: price appears to have been six hundred, But if you 513 00:32:46,000 --> 00:32:47,520 Speaker 1: go back just a little further, you see that the 514 00:32:47,560 --> 00:32:52,200 Speaker 1: price was lower earlier. Just be careful. Sometimes that deal 515 00:32:52,320 --> 00:32:54,520 Speaker 1: that's too good to be true is too good to 516 00:32:54,600 --> 00:32:57,880 Speaker 1: be true. Online holiday sales tend to feature pretty good 517 00:32:58,000 --> 00:33:01,080 Speaker 1: deals leading all the way up to Green Monday. Now, 518 00:33:01,120 --> 00:33:04,960 Speaker 1: Green Monday is the second Monday in December and it's 519 00:33:05,120 --> 00:33:09,400 Speaker 1: just ten shipping days out from Christmas Day, meaning if 520 00:33:09,440 --> 00:33:12,320 Speaker 1: you wait any longer, you may not have enough time 521 00:33:12,400 --> 00:33:15,200 Speaker 1: for your order to get to you before the gift 522 00:33:15,280 --> 00:33:20,320 Speaker 1: giving festivities occur in That day falls on December ten, 523 00:33:21,040 --> 00:33:24,920 Speaker 1: and the name Green Monday actually comes from the site eBay. 524 00:33:25,360 --> 00:33:29,120 Speaker 1: eBay coined the term Green Monday in two thousand seven. 525 00:33:29,800 --> 00:33:33,360 Speaker 1: That was after they had noticed that this particular Monday 526 00:33:33,880 --> 00:33:36,040 Speaker 1: had some of the highest sales of the year. In fact, 527 00:33:36,080 --> 00:33:40,120 Speaker 1: it was the busiest online shopping day for quite some time. 528 00:33:40,640 --> 00:33:44,880 Speaker 1: Cyber Monday would pass Green Monday in two thousand nine 529 00:33:45,440 --> 00:33:48,640 Speaker 1: during the Great Recession, and then Cyber Monday would ultimately 530 00:33:48,680 --> 00:33:52,440 Speaker 1: become the busiest online shopping day and Green Monday would 531 00:33:52,480 --> 00:33:57,240 Speaker 1: fall quite a bit. But it's still very popular online 532 00:33:57,280 --> 00:33:59,360 Speaker 1: shopping day. In fact, now I think it's climbed back 533 00:33:59,400 --> 00:34:02,000 Speaker 1: up to number two. It was down in its number 534 00:34:02,080 --> 00:34:04,200 Speaker 1: five for a while, but I think it's back up 535 00:34:04,240 --> 00:34:07,240 Speaker 1: to number two at this point. So until Green Monday, 536 00:34:07,400 --> 00:34:11,120 Speaker 1: you're likely to see some pretty good deals online. And 537 00:34:11,360 --> 00:34:17,040 Speaker 1: that is the history and evolution of cyber Monday. Again, 538 00:34:17,239 --> 00:34:21,960 Speaker 1: it's some combination of marketing, some combination of psychology, some 539 00:34:22,160 --> 00:34:28,520 Speaker 1: combination of just trying to capitalize on already established consumer habits. 540 00:34:29,160 --> 00:34:31,880 Speaker 1: It's good to know all of these elements because it 541 00:34:32,040 --> 00:34:35,160 Speaker 1: informs you before you start making decisions on what you're 542 00:34:35,160 --> 00:34:37,800 Speaker 1: gonna buy and who you're going to buy it from. Also, 543 00:34:38,680 --> 00:34:41,080 Speaker 1: small Business Saturday is still a thing, and I still 544 00:34:41,160 --> 00:34:44,160 Speaker 1: really like it. I like supporting small local businesses when 545 00:34:44,200 --> 00:34:47,160 Speaker 1: I can, because you can get some really unique stuff. 546 00:34:47,800 --> 00:34:51,080 Speaker 1: I know that that's redundant to say really unique, but 547 00:34:51,400 --> 00:34:53,759 Speaker 1: you can get stuff that you can't find anywhere else 548 00:34:53,880 --> 00:34:56,920 Speaker 1: from a lot of small businesses, and you support people 549 00:34:56,960 --> 00:34:59,800 Speaker 1: who are working really hard to keep those businesses go. 550 00:35:00,480 --> 00:35:02,520 Speaker 1: A m I mean paying a little more for the gift, 551 00:35:02,600 --> 00:35:05,960 Speaker 1: but it also probably mean the gift means a little more, 552 00:35:06,120 --> 00:35:09,040 Speaker 1: so it all evens out right. I hope you guys 553 00:35:09,400 --> 00:35:14,359 Speaker 1: enjoyed that episode about the history of cyber Monday goes 554 00:35:14,600 --> 00:35:18,719 Speaker 1: into not just tech obviously, but economics. But then a 555 00:35:18,800 --> 00:35:21,280 Speaker 1: lot of my topics do spill over into that because, 556 00:35:21,360 --> 00:35:25,480 Speaker 1: as we have understood for a long time, tech does 557 00:35:25,560 --> 00:35:30,880 Speaker 1: not exist in a vacuum unless it's a spacecraft in space, 558 00:35:31,800 --> 00:35:34,960 Speaker 1: and then it then it does exist in a vacuum. 559 00:35:36,280 --> 00:35:40,200 Speaker 1: I gotta come up with a better a better phrase. Anyway, 560 00:35:40,560 --> 00:35:43,600 Speaker 1: I hope you guys enjoyed that episode, and we'll be 561 00:35:43,760 --> 00:35:47,959 Speaker 1: back with a new episode very soon. But I wanted 562 00:35:48,000 --> 00:35:50,320 Speaker 1: to give you, guys something didn't want to skip a Monday, 563 00:35:50,560 --> 00:35:53,400 Speaker 1: and I also didn't want to make super producer Tari 564 00:35:53,800 --> 00:35:57,400 Speaker 1: have to work during a holiday because I mean, she 565 00:35:57,560 --> 00:36:01,120 Speaker 1: deserves her time off, probably more than I do. So 566 00:36:01,600 --> 00:36:04,880 Speaker 1: if you have suggestions for future episodes of tech Stuff, 567 00:36:04,920 --> 00:36:06,680 Speaker 1: reach out to me. The best way to do that 568 00:36:07,040 --> 00:36:11,440 Speaker 1: is on the Twitter. The handle is tech stuff hs 569 00:36:11,719 --> 00:36:20,399 Speaker 1: W and I'll talk to you again really soon. Text 570 00:36:20,400 --> 00:36:23,839 Speaker 1: Stuff is an I Heart Radio production. For more podcasts 571 00:36:23,880 --> 00:36:26,640 Speaker 1: from my Heart Radio, visit the i Heart Radio app, 572 00:36:26,760 --> 00:36:29,920 Speaker 1: Apple Podcasts, or wherever you listen to your favorite shows.