When I was a kid, Thanksgiving was all about pretending to enjoy talking with some relatives, watching Charlie Brown specials, and gorging on turkey. However, my mother, sisters, and aunts would sometimes use the holiday to go shopping after Thanksgiving. It was a long time before I understood the difference between Black Friday and Cyber Monday.
It took me a long time to understand that these are best times of the year to get deeps discounts and savings on Christmas gifts and retail items in general.
Most retailers need to move inventory to make space for next year’s inventory during this time of year.
If you’re like me, people who only understand terms like, “Black Friday,” or, “Cyber Monday,” in vaguely abstract terms, then consider some stats. For one thing, 86% of Americans will spend over $87 billion shopping on Black Friday and Cyber Monday.
The average American is going to spend over $400 each on both shopping days.
Americans will spend about 12% more on Black Friday and Cyber Monday relative to last year.
It’s no understatement to say that Black Friday and Cyber Monday are the biggest shopping days of the year. I am going to tell you where to find the biggest deals.
Before all of that, let’s examine the differences between both holidays.
What is The Difference Between Black Friday and Cyber Monday?
The seeds of the Black Friday phenomenon were born in the 1950s. Americans en masse would call in sick for work on the day after Thanksgiving to take advantage of shopping deals
However, it wouldn’t be until 1966 before the term, “Black Friday,” was coined and used for the first time in a newspaper advertisement.
The term might refer to retailers getting out of the red and into the black relative to their profit margins.
Or, it might be a reference to the rowdy and unpleasant mood of spree shoppers scrambling for deals in the dead of night before dawn.
Cyber Monday was coined in 2005 by Shop.org as a shopping event on the first Monday after Thanksgiving. This era was the dawn of mass smart device ownership and fast internet connectivity. Most people shop online on Cyber Monday, hence the name.
Black Friday has been billed as the biggest shopping day of the year for decades. However, Cyber Monday took that title in 2017 and 2018.
Most people now shop at Thanksgiving at the stroke of midnight.
Black Friday is notorious for news report depictions of hordes of spree shoppers swarming midnight sales at brick-and-mortar retail stores.
Shoppers will camp out in front of stores and stand in line for hours to bargain hunt for big deals.
Many Black Friday shoppers shop online, but most Cyber Monday shopper prefer shopping online.
Black Friday shoppers buy expensive items that have been severely discounted. Shopping on Black Friday is all about finding the most expensive products with the deepest discounts.
Cyber Monday shoppers buy smaller, previous-generation electronics at steep discounts.
Where to Get the Goods
Best Buy’s Black Friday Deals run from November 28 through November 30.
Amazon’s Black Friday Deals are running from now until November 29.
At CyberMonday.com, you can have the latest digital coupons emailed to you.
Here are the best listings of the upcoming Black Friday and Cyber Monday deals. You should check the websites of your favorite retailers for more information.
Most sales won’t occur until Thanksgiving, but many are occurring now.
Don’t Overshop
Over 52% of people regret their purchases after a big shopping spree. Make a list of the things that you want before shopping.
Don’t get caught up in Black Friday retail shopping incidents where people argue over material items. Buying anything you can online on Cyber Monday, just because you can, also defeats the purpose.
Strive to get great deals on the things you want.
Read More
GET THE REAL DEALS ON BLACK FRIDAY
WHAT IS CYBER MONDAY AND WHY SHOULD YOU CARE?
5 SNEAKY WAYS TO SAVE ON HOLIDAY SHOPPING THIS YEAR
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.