Dr. Yang teaches about online shopping tools, mobile shopping, mobile retailing services, consumer issues in electronic market environments, e-merchandising, and the use mobile data services.
Shop.org, part of the National Retail Federation, first coined the term, CyberMonday, in 2005 after research showed that 77 percent of online retailers reported a significant increase in sales the Monday after Thanksgiving in 2004.
In 2004, most offices had high-speed Internet access and homes did not. Today, 67% of Americans have high-speed access. This has caused retailers to alter their CyberMonday marketing. Today, retailers combine Black Friday and CyberMonday campaigns. Increasingly, retialers are using Social Media, too.
In 2009, CyberMonday sales were $880 million. 2010 expectations are that CyberMonday sales will exceed $1 Billion.
A new trend in CyberMonday retialing is the emergence of CyberMonday consolidation sites like CyberMonday.com. Here, over 700 retailers band together to offer special deals. Many retailers have found that offering free shipping on CyberMonday increases purchases.
Listen to the entire, informative interview below: