Nov. 26 – Monday Madness

Gay Lynn HillBell Ringers, Economics(BR)

Nov. 26, Cyber Monday (First Monday after Thanksgiving)

We all know the internet has been nothing short of revolutionary. It has changed the way we communicate with others, conduct business, consume information, get entertainment, and of course how we shop. One of the greatest examples of the disruptive effects of the internet on shopping comes around once a year with Cyber Monday.

Long gone are the days when Americans in search of exceptional deals were forced to line up by the hundreds, if not thousands, outside of large physical department stores and malls on Black Friday, the unofficial start of the holiday shopping season. Today, more Americans are choosing to conduct their shopping online, and there is no greater online shopping day than Cyber Monday. According to the National Retail Federation, in 2016 there were over 122 million American shoppers on Cyber Monday, while there were only 116 million shoppers on Black Friday.

Like most of the internet’s disruptive effects this comes down to the ease and efficiency of using the internet. Rather than taking time to travel to various middle men and shop from them, it’s far more efficient to shop from as many different websites as you desire from the comfort of your own home.

Similarly, it’s often cheaper and easier for suppliers of goods to sell their products online where there is little overhead, rather than pay the high overhead costs of running a physical store.



Questions:
  1. Do you shop on the internet or in physical stores more? Why?
  2. Are there certain things you prefer to buy in stores or online? Why?
  3. What might be some advantages of physical stores over websites?

Image Citation:

17, July 2018, Cyber Monday. [Digital image]. Retrieved from <money.cnn.com/2012/11/23/technology/cyber-monday-deals/index.html>.