The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman
After Black Friday comes Cyber Monday, an initiative by merchants to increase revenue from online sales.
The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman.
Cyber Monday is essentially an online continuation of Black Friday so that the market responds to the large response from the general consumer who in other years has typically shopped in physical stores.
Also read: What is Cyber Monday and when was it born?
Cyber Monday began in 2005 and falls on the Monday after Thanksgiving.
The difference with Black Friday is that the offers are for online purchases and not purchases in physical stores. Advice from a consumer advocate
In order to better inform and prepare consumers, but also to make the most of the opportunities offered by the market, the independent body “Consumer Advocate” formulates a series of recommendations to consumers.
“Consumers need to understand that Cyber Monday marketing aims to create an atmosphere of consumer frenzy and euphoria that promotes market movement, but it is consumers who must in any event wisely determine the timing and the content of their purchases, according to their real needs and financial possibilities, and not in the shadow of an in no way psychological payment system.
She also points out that “excessive or abnormally large price reductions can in some cases mask fraudulent practices, such as the misleading sale of counterfeit products, which have flooded the market”.
He then clarifies: “Furthermore, the practice of defrauding consumers, mainly during online purchases, by seasoned merchants or by people posing as merchants (usually through social networks) is a phenomenon daily, but which is constantly increasing.” Especially during the sales. periods, because after that there are more transactions. Therefore, consumers, in addition to good prices, should look for other guarantees that they will indeed carry out profitable and safe transactions in legal and valid online stores.
What consumers need to know
• Complete identification information is displayed on the online store’s website: company name, registered office, postal and electronic address (e-mail), VAT number, contact telephone numbers (which must be landline and non-mobile), GEMI registration number (to be Encourage consumers to confirm, by referring to the link: www.businessregistry.gr/publicity/index).
• That a variety of alternative payment methods are provided, including the use of electronic means, and not just cash on delivery or deposit into a bank account. Bank deposit in particular, if it appears as an exclusive method of payment, and if the merchant is required at the same time to withdraw the full amount of the purchase, should be of particular concern to consumers and make them very hesitant.
• that the possibility of out-of-court dispute resolution is available, as well as in a prominent place on the trader’s website, the link to the relevant electronic platform of the European Commission, which consumers should check beforehand that it is active and that it points to the correct hyperlink.
• That a large number of spelling and grammatical errors are not present in the important texts of the merchant’s site (for example in the product descriptions, in the conditions of use or in the personal data policy), which are indicative of negligence, but also of fraudulent intent, and should therefore prevent consumers from carrying out a transaction which may later turn out to be malicious.