In 2005, the Monday after Thanksgiving, known as “Cyber Monday”, was labeled as the 12th biggest online shopping day of the year. In that year, FAcebook had 5.5 million users and Twitter didn’t exist. 5 Years later, in 2010, Cyber Monday was the #1 biggest online shopping day of the year, with sales topping $1 billion. It is very apparent that with the growth of social media sites, such as Facebook and Twitter, they have allowed consumers to share deals with other friends, being directly linked to their favorite stores and so forth, making Cyber Monday the biggest online shopping day of the year.
Retailers are continuing to successfully build their presence on social networkds. The 25 US Retailers with the most fans on Facebook had a combined 259 million fans in October. During the holiday season, consumers will turn to these retailers to find deals for their holiday shopping. While retailers that are more hesitant about social media will be less likely to attain sales from these social consumers while their competitors profit.
Data aside, there is no question that social media is having a profound impact on the way we shop. Today, we depend on our social networks to tip us off to the best deals and sales. Only two or three years ago this was not the case.