Cyber Monday was first introduced in the US in 2003 and much like Black Friday, quickly made its way across to the UK. Cyber Monday is becoming widely known as the busiest internet shopping day of the year. The big question is – is it worth it?
Even though Black Friday has started to move online, Cyber Monday has been long sold as an alternative to spending times in queues, and it’s also when retailers are able to offer their best online deals.
The specific offerings that get the most Black Friday and Cyber Monday sales are called doorbusters and loss leaders.
Doorbusters are the most common type of item on offer and are designed to attract a large amount of shoppers to visit the website. They will often have a set time limit or stock limit to ensure you don’t buy them from a competitor. When a doorbuster is sold out, the hope is that you’ll stay on the website and buy other items.
Loss leaders are similar to doorbusters in that they’re also designed to attract as large an audience as possible but are more heavily discounted and often sold at a loss so that the offer will make you shop around and buy other items that compliment it.
A good example of a loss leader are laptops – heavily discounted so that they’re sold at minimum profit, but will have “useful” suggestions for antivirus software, carry cases, headphones, wireless mice etc. which is where the majority of the profit is made.
If you’re looking to make the best savings on Cyber Monday, you should always go for the loss leader items over the doorbusters, as they are less likely to be sold out and are more heavily discounted than the doorbuster items.
What are the most common Cyber Monday loss leaders in 2017?
According to research by consumer website Dealnews, their research has shown that in 2017 the most common loss leaders are:
- Travel and hotels
- Kitchen items
It’s important to remember that these trends can change over time, so it’s always worth doing your own research into loss leaders before starting your Cyber Monday shopping.