1.
Who coined the term Cyber Monday?
Correct Answer
C. Ellen Davis and Scott Silverman
Explanation
Ellen Davis of the National Retail Federation and Scott Silverman coined the term Cyber Monday to highlight the growing trend of online shopping on the Monday after Thanksgiving. The term was first introduced on November 28, 2005, in a Shop.org press release. Their goal was to create a dedicated shopping day that encouraged consumers to take advantage of online discounts. Over the years, Cyber Monday has evolved into one of the biggest online shopping events globally, offering significant deals across various e-commerce platforms.
2.
What is Cyber Monday often compared to?
Correct Answer
B. Black Friday
Explanation
Cyber Monday is often compared to Black Friday, as both shopping events offer huge discounts. However, while Black Friday primarily focuses on in-store shopping with doorbuster deals and long lines, Cyber Monday emphasizes online shopping with exclusive digital discounts. The event was created to help smaller online retailers compete with big-box stores that dominated Black Friday sales. Today, both events are part of the extended holiday shopping season, with many retailers offering week-long discounts leading up to Cyber Monday.
3.
What percentage of online retailers reported increased sales on Cyber Monday in 2005?
Correct Answer
D. 77%
Explanation
According to the Shop.org/Bizrate Research 2005 eHoliday Mood Study, approximately 77% of online retailers reported a significant increase in sales on Cyber Monday. The study confirmed that consumers were actively searching for post-Thanksgiving online deals, encouraging retailers to launch Cyber Monday-specific promotions. The surge in online traffic and purchases on that Monday after Thanksgiving solidified Cyber Monday’s importance in e-commerce. Since then, the trend has continued to grow, with online retailers worldwide offering substantial discounts to attract more shoppers each year.
4.
Cyber Monday offers a way for smaller retail websites to compete with which larger event?
Correct Answer
C. Black Friday
Explanation
Cyber Monday provides an opportunity for smaller retail websites to compete with Black Friday, which is dominated by large retail chains and brick-and-mortar stores. Since Black Friday deals often favor big businesses with physical stores, Cyber Monday helps online businesses—especially smaller ones—attract customers through digital sales. This event allows them to offer significant discounts, free shipping, and other promotions to stand out in the highly competitive online shopping market. Over time, Cyber Monday has become an essential part of the holiday shopping season worldwide.
5.
How has Cyber Monday evolved since its inception?
Correct Answer
B. It became international
Explanation
Since its inception in 2005, Cyber Monday has transformed from a U.S.-focused online shopping event into a global retail phenomenon. Many countries, including Canada, the UK, Australia, and Germany, have adopted similar online shopping days with massive digital discounts. Retailers worldwide use Cyber Monday to drive sales and clear out inventory before the year-end holiday season. Thanks to globalization and increased internet access, Cyber Monday is now recognized as a key shopping day across various e-commerce platforms, attracting millions of shoppers globally each year.
6.
What year did retail stores start lowering prices, leading to the creation of Cyber Monday?
Correct Answer
B. 1950
Explanation
While Cyber Monday was officially established in 2005, the roots of modern holiday shopping sales can be traced back to 1950, when retail stores first began offering deep discounts after Thanksgiving. These early price cuts and extended store hours laid the foundation for Black Friday’s popularity, which eventually influenced the rise of Cyber Monday as an online alternative. As internet shopping gained momentum, retailers recognized the potential of post-Thanksgiving e-commerce sales, leading to the birth of Cyber Monday, which continues to drive massive online transactions today.
7.
Which research study highlighted the substantial sales increase on Cyber Monday in 2005?
Correct Answer
C. Shop.org/Bizrate Research
Explanation
The Shop.org/Bizrate Research 2005 eHoliday Mood Study played a key role in identifying the rise of online shopping on Cyber Monday. The study found that 77% of online retailers reported increased sales on the Monday after Thanksgiving, proving that online holiday shopping was becoming a significant trend. This research helped solidify Cyber Monday’s status as an annual shopping event. Over the years, retailers have continued to invest heavily in Cyber Monday deals, leveraging insights from such studies to refine marketing strategies and enhance customer engagement.
8.
What inspired the creation of Cyber Monday?
Correct Answer
A. Black Friday success
Explanation
Cyber Monday was inspired by the massive success of Black Friday, which had become a dominant shopping day in the U.S. Retailers noticed that many consumers preferred shopping online after the Black Friday rush, leading them to create a separate day dedicated to e-commerce deals. By establishing Cyber Monday, businesses provided shoppers with an additional opportunity to take advantage of discounts—this time from the comfort of their homes. The event also helped online retailers capitalize on the growing trend of internet shopping, making Cyber Monday an essential part of holiday sales.
9.
Which organization released the press announcement for Cyber Monday in 2005?
Correct Answer
B. National Retail Federation
Explanation
The National Retail Federation (NRF) played a crucial role in launching Cyber Monday as an official online shopping event. On November 28, 2005, the NRF released a press announcement to promote Cyber Monday, highlighting its potential to drive online sales. The term was coined by Ellen Davis and Scott Silverman to encourage consumers to embrace e-commerce. Since then, Cyber Monday has grown into one of the biggest online shopping days worldwide, with millions of shoppers taking advantage of digital deals across various e-commerce platforms.
10.
What is another term for Cyber Monday used internationally?
Correct Answer
B. Online Shopping Day
Explanation
Cyber Monday has gained international recognition and is often referred to as Online Shopping Day in several countries. The concept has expanded beyond the U.S., with retailers worldwide offering special discounts on the Monday after Thanksgiving. Many e-commerce platforms in countries such as China, Canada, and Australia promote Cyber Monday under different names, making it a global event. With online shopping continuing to grow, Cyber Monday serves as a crucial opportunity for businesses to attract global customers and maximize holiday season sales through digital promotions.