Definition
Green Monday, originating from eBay in 2007, refers to one of the largest online shopping days in December, usually the second Monday of the month. Online retailers offer big sales comparable to Black Friday and Cyber Monday. It gets its name from both the green of dollars and the idea of an environmentally friendly online shopping day, as there is less carbon footprint compared to in-store shopping.
Phonetic
The phonetic transcription of “Green Monday” is /ɡriːn ˈmʌndeɪ/.
Key Takeaways
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- Green Monday is considered one of the biggest online shopping days of the year, falling on the second Monday of December. It gets its name from both the green of cash and the idea of being environmentally friendly.
- Green Monday was first coined by eBay in 2007 to describe their best sales day in December. Other retailers have since adopted the term and typically offer special sales and discounts.
- Similar to Black Friday and Cyber Monday, Green Monday is a good day for consumers to find major discounts on products, especially for those who missed the former two events. However, it’s also a day that encourages people to make more sustainable and conscious buying choices.
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Importance
Green Monday is an important term in business/finance context primarily because it refers to one of the biggest online shopping days in the United States. Introduced by eBay in 2007, Green Monday occurs on the second Monday of December, when online sales peak as shoppers rush to complete their holiday purchases. It’s significant for businesses because it often represents one of the last opportunities for retailers to capture holiday sales before shipping deadlines for Christmas. Therefore, retailers often offer special deals or incentives on this day to boost sales, making Green Monday a critical part of the retail calendar and an important contributor to a business’s annual revenues.
Explanation
Green Monday traditionally refers to the second Monday in December, which has emerged as an important online shopping day. This stems from the strong online revenues recorded on this day, primarily due to the time-sensitive nature of shipping holiday gifts. In a bid to capitalize on this trend, marketing entities and online retailers have utilized Green Monday as one of their marketing strategies, offering sales and encouraging consumers to shop. This rise in online shopping activity plays a significant role in heightening sales and revenue during the holiday season.Aside from its commercial benefits, Green Monday also has an environmental perspective. Some industries use this day to promote environmentally friendly practices, such as reducing carbon footprints and emphasizing sustainability. For example, eBay started Green Monday to encourage sustainable shopping, through the sale of pre-owned items which in turn, helps reduce environmental waste. Therefore, while Green Monday is a vital commercial retail day boosting seasonal sales, its underlying goal is also to promote environmentally conscious spending.
Examples
1. eBay coined the term ‘Green Monday’ in 2007. In their application, the second Monday of December was their busiest online shopping day, hence they started offering enticing deals and discounts on a wide range of products. This turned out to be a successful sales strategy, leading to increased profits especially during the holiday season.2. In 2019, Target Corp participated in Green Monday by offering an online deal where customers could get $20 off for every $100 spent. This marketing strategy aimed to boost online sales and increase their competitive edge during the holiday shopping season.3. Walmart has participated in Green Monday by offering special deals and discounts across multiple product categories. This approach allowed them to expand their customer base and increase sales, further promoting their commitment to providing low-cost options for consumers. Specifically, they offered significant discounts on electronics, toys, home appliances and apparel.
Frequently Asked Questions(FAQ)
What is Green Monday?
Green Monday is a term coined by eBay to describe its best sales day in December, usually the second Monday of December. It refers to one of the busiest online shopping and shipping days of the year.
Why is it called Green Monday?
The term Green Monday was used by eBay to symbolize both prosperity (since green is often the color associated with money) and also aligns with the environmentally friendly idea of online shopping, reducing the carbon footprint compared to traditional retail shopping.
Does every online retailer participate in Green Monday?
While Green Monday originated with eBay, many online retailers have adapted this and offer major sales and discounts on this day to boost their holiday sales.
When exactly does Green Monday occur?
Green Monday typically falls on the second Monday in December, though some retailers may extend their sales for a longer period.
How can I find the best Green Monday deals?
To find the best Green Monday deals, it is recommended to subscribe to newsletters of your favorite online stores, follow them on social media, or check their websites regularly on that day.
Is there a significant difference between Black Friday, Cyber Monday, and Green Monday sales?
These days all focus on special deals and promotions. While Black Friday and Cyber Monday are more well-known and may offer more significant deals, Green Monday is a lesser-known event that can still provide substantial discounts, especially for late holiday shoppers.
Why should businesses take advantage of Green Monday?
Green Monday offers an excellent opportunity for businesses to boost their sales during the holiday season. As online shopping continues to gain popularity, taking advantage of online-focused sales events like Green Monday can help increase a business’s revenue.
Related Finance Terms
- E-commerce
- Cyber Monday
- Online Shopping
- Holiday Sales
- Consumer Spending
