Every year, the holiday season is the high point of most industries in terms of sales and profits being generated. Retail outlets depend on this phenomenon, recouping a large percentage of their annual overhead costs all in a few months. A variety of industries also experience an increase in profits during the holiday season, from the healthcare industry to car sales. Beginning in October with Halloween and ending with New Year’s Eve, the holiday season is the time of year that most people spend the most amounts of money, and companies make the most amounts of money.
While the holiday season is has remained incredibly productive for the global economy over the last few decades, the way that money is being spent has begun to change. Ecommerce is slowly but surely becoming the dominant way that business transactions are completed. The market has shifted, and the industry in which this is most evident is the retail industry. The American mall is dying a slow death, as internet shopping siphons away more and more of the business that sustains it. About thirty percent of all holiday related sales take place online, with Amazon and Ebay dominating the ecommerce market. The vast majority of people buying gifts or looking for a deal have begun to use the internet to find whatever product they are looking to buy. While for now they still primarily go out and buy these products from stores, it has become evident that soon almost all shopping will take place in the digital marketplace.
Black Friday is the largest shopping day of the year. The deals offered on the Friday after Thanksgiving are difficult for many to pass up, but the crowds they have to deal with are undeniably a deterrent. And Cyber Monday is a similar experience, with large crowds and a limited supply of products making it difficult for shoppers to obtain the products they wish to purchase. As a result, a large percentage of the people doing their shopping on those days are now doing their shopping on the internet. The convenience of not having to go out and travel to a store makes ecommerce incredibly appealing for the average American. They are now able to save just as much money on deals by purchasing their products online, and are able to get the products delivered straight to their homes as well.
The types of products being sold have changed over the last decade, making Cyber Monday more important than ever to shoppers. Technological products are dominating the market to a degree that some analysts find surprising. Not only are more and more industries becoming computerized more heavily, but the consumers themselves are becoming accustomed to a certain level of digitization. Video games and gaming consoles are incredibly popular gifts for an expanding demographic of people; they aren’t simply for children anymore. Almost every man, woman, and child in the United States older than the age of seven owns and uses a cell phone, and most of those cell phones are smartphones. Not to mention the purchase of actual computers, with laptop sales becoming more and more common every year. Technology is dominating the holiday season in almost every conceivable way.