What Is Cyber Monday? A Guide to the Biggest Online Shopping Day of the Year
Move over, Black Friday. Cyber Monday wants you to know it means serious business regarding consumer spending. In fact, Adobe forecasts that Cyber Monday 2024 will remain the season's and year's biggest shopping day, driving a record $13.2 billion in spending.
The appeal of Cyber Monday is obvious: You can do your shopping online to avoid in-store crowds and you can take advantage of some crazy deals. But without a plan in place, you might be wondering what the hype is all about.
What Is Cyber Monday?
Cyber Monday is the Monday that immediately follows Black Friday. In 2024, Cyber Monday falls on December 2, 2024. In addition, many retailers run Cyber Week deals, so you can take advantage of significant savings over multiple days.
The major advantage of Cyber Monday is that you don't have to worry about the crowds you would see when shopping at physical stores. And since you're shopping online, you'll have access to more stores and stock.
The downside of Cyber Monday is that you'll have incredible deals at your fingertips—so if you're not careful, you could spend much more than you anticipated.
How To Get the Most Out of Cyber Monday Deals
You don't run a marathon without training first. So before you start spending, here are a few things to prep beforehand and some tips for getting the most out of Cyber Monday sales.
1. Make a budget
Before diving into Cyber Monday deals, set a budget to avoid overspending. Decide how much you can afford and make a list of priority items. That way, you can avoid splurging on things you don't need and prevent impulse buys that can derail your finances. You can also use apps or a simple Excel spreadsheet to track your purchases, making sure you stick to your budget while still getting the best deals.
Black Friday, Cyber Monday and Cyber Week are often treated as one big shopping extravaganza, so budget wisely. Use your holiday budget for gifts and your regular budget for personal purchases. If you're planning to buy a big-ticket item like a laptop, Cyber Monday is a great time—just make sure you have the funds ready to avoid debt. Stick to your budget to make the most of the deals without overspending.
READ MORE: What Is Zero-Based Budgeting and How Does It Work?
2. Start your shopping list
Part of the planning process for Cyber Monday is making a shopping list. Write down everything you need, and check the list twice to ensure you only include necessary items. Essentially, you're prioritizing items so you don't overspend.
While creating your list, it's also a good idea to note the current prices. That way, when Cyber Monday deals become available, you can quickly check to see if the savings are worth it compared to the regular price. If you spot significant savings on specific items, you can prioritize them.
3. Research deals
A week or two before Black Friday and Cyber Monday, retailers release their flyers online. This allows you to browse various merchants to narrow down your top deals. Another strategy is to follow your favorite brands on social media, such as Facebook, TikTok, Instagram and X (formerly Twitter), since they'll often share the best deals. Signing up for merchant newsletters can also help, as you'll get sale notifications right in your inbox.
Consider creating an Excel spreadsheet to keep track of your Black Friday and Cyber Monday shopping. Include columns for your desired items, the regular price, the sale price, the store where the sale is and the time the sale starts. Once you have all the details in front of you, it's easier to determine which sales to prioritize.
4. Start early
While doing your research, you'll likely notice that many retailers have specific times when their Cyber Monday deals begin. Some start at 12:01 a.m., while others may begin at 8:00 a.m. By starting your shopping as soon as the offers become available, you have a better chance of getting your purchasing done while there's still plenty of stock.
5. Don't forget about financial offers
When you're ready to check out, pay with a cash back credit card like the Synchrony Mastercard to earn cash back on all eligible purchases. You can also consider using your credit card rewards to pay for Cyber Monday purchases.
In addition, many of Synchrony's retail partners take part in Cyber Monday, so you could potentially double-dip. Start your shopping at Synchrony Marketplace to access limited-time savings, discounts and rebates on select stores and purchases.
Is Cyber Monday Worth It?
Is Cyber Monday worth it? It depends! Since Cyber Monday takes place entirely online, it could be worth it because you don't need to deal with the crowds found in store on Black Friday. In addition, there's much more stock online and it's often replenished throughout the day, so you may have a better chance of snagging a deal online than in person.
As for what to buy, the best deals on Cyber Monday are traditionally computers, clothing, travel and online subscriptions. Electronics, appliances and skin/beauty products also tend to be popular. If you were planning to buy those items anyway and they go on sale during Cyber Monday, it can be worth it.
READ MORE: Top 7 Tips to Rein in Your Holiday Spending
