Cyber Monday has become one of the biggest online shopping days of the year, surpassing even Black Friday. In 2021, shoppers spent $10.7 billion on Cyber Monday, compared to $8.9 billion on Black Friday, according to Adobe.

When Is Cyber Monday?

Cyber Monday is always the Monday after Thanksgiving. In 2022, it’s on Monday, Nov. 28. In 2023, it’s on Monday, Nov. 27.

Cyber Monday sales begin at midnight, but the majority of shopping takes place in the evening. Adobe calls this time the “Golden Hours,” and on Cyber Monday 2021, shoppers spent more than $2.8 billion between 7 and 11 p.m. Pacific time—almost 50% more than shoppers spend on a normal day in August. During the 2008 recession, online shopping deals became even more important. There were also fewer shopping days after Thanksgiving that year. That pent-up demand helped Cyber Monday sales grow. Between 2010 and 2020, Cyber Monday sales increased eightfold, according to Comscore data compiled by BlackFriday.com. In 2020, Cyber Monday shopping sales hit a record $10.84 billion, though it fell short of the forecasts. But in 2021, sales dipped a little to $10.7 billion. Adobe’s holiday shopping report blames this drop on the surge in illness around the holidays. Regardless, it was still the most successful shopping day for retailers during the five-day period surrounding Thanksgiving in 2021. Cyber Monday 2020 was a particularly popular and historic year. In a BlackFriday.com survey, more than 80% of shoppers said they were impacted by the COVID-19 pandemic. Many stores were scheduled to be closed on Thanksgiving, which may have sent shoppers online instead. Retailers also started offering Cyber Monday sales for the entire week following Thanksgiving. The majority of shoppers prefer online shopping during the holiday season. Time-strapped shoppers often find online shopping more convenient, likely due to the fact that you can shop online at all hours of the day from a computer or a smartphone. Shoppers are using mobile phones to shop online more than ever. Almost half (45%) of Americans use their cell phones while in a store to try and find a better price online. Another 12% have used their phone to pay for an item while in the store.

Cyber Monday’s Impact on Retail Stores and Shopping Malls

In 2018, former JCPenney CEO Mike Ullman said that only 25% of America’s 1,200 shopping malls will survive by 2023. Those that do will serve the highest-earning 20%. Ullman said that only malls that can attract an Apple or Tesla store would survive. Retailers have filed for bankruptcy at record-high rates since 2018, including well-known brands such as Payless, FTD, and Barneys New York in 2019. The pandemic accelerated the decline of brick-and-mortar stores. In 2020, famous chains such as JCPenney, Stein Mart, and Neiman Marcus declared bankruptcy.

How To Get the Best Cyber Monday Deals

You can also follow your brands on social media to see advertisements for sales ahead of Cyber Monday. Deals often consist of free shipping since Cyber Monday is all about online shopping, though retailers have also offered various price discounts. Other offers may include free gifts with purchase. Look for shopping deals on clothes, appliances, and technology, like headphones or TVs. You may also want to shop with a friend. If a store or website offers a two-for-one deal, you can each get an item at half the price.