It's safe to say that Black Friday and Cyber Monday unofficially mark the beginning of the holiday shopping season. This is a great time to kick-start your shopping, as you can potentially save big and beat the crowds. Understandably, many people focus on saving money by taking advantage of deals, but Cyber Monday is also an opportunity to give yourself a gift that can help you save for the future.
How to Find Cyber Monday Deals
To uncover the best Cyber Monday deals, savvy shoppers can start by following these tips:
1. Scan the flyers
A week or two before Black Friday and Cyber Monday, retailers release their flyers online. This allows you to browse various merchants to narrow down your top deals. Once you know what items you'll target, make a list of what you want to prioritize and what your total budget is. Also, make note if any of the deals are only available at certain times or have limited quantities.
2. Follow on social media
Most retailers preview or list their Cyber Monday deals on their social media channels. So whether you have X (formerly Twitter), Instagram or TikTok, be sure to follow your favorite brands for the latest deals.
3. Get online
It's worth noting that many Black Friday and Cyber Monday deals are also available online. If you sign up for the newsletters offered by your favorite retailers, you'll be alerted to what's going to be on sale and when those sales will start. This is relevant because some retailers start their Cyber Monday deals at midnight—or possibly the day before. That means you can get your shopping done before having Thanksgiving dinner with the family.
4. Go with the community approach
Sometimes other users find the best deals. To get involved, you can browse Slickdeals.net, as people publish any deals they've recently found. This covers things from Cyber Monday deals to clearance items.
5. Set a reminder
Cyber Monday deals are typically released at the same time as (or just after) Black Friday deals. That means you'll have to search those deals so you know what to buy and when to buy it. Once you know when retailers start their sales, set reminders on your phone or calendar so you can take advantage of the deals as soon as they begin.
6. Tap into an app
Instead of checking each retailer individually, try using a flyer comparison app. These apps consolidate all the flyers available at your local merchants, so you can quickly browse what's available. Within the app, you can usually create a shopping list to track what you want. You may also be able to search for specific products within the app, so you can find exactly what you're looking for.
7. Compare, compare, compare!
Even though some things may be on sale at retailers, be sure to compare them to the items on the manufacturer's website in case they sell directly to consumers. You can also try the Camelizer tool, a price-tracking browser extension that lets you see the historical pricing so you'll know if you're getting a real deal.
8. Use a cash back card
When you're ready to check out, pay with a cash back credit card like the Synchrony Mastercard to earn cash back on all eligible purchases. In addition, many of Synchrony's retail partners take part in Cyber Monday, so you could potentially double-dip.
READ MORE: 6 Tips for Shopping Online Safely
What is Cyber Monday?
Cyber Monday is a day in November when you can snag exceptional online shopping deals. It takes place the Monday after Thanksgiving, and it's become one of the biggest online shopping days of the entire year, even exceeding Black Friday sales.1 In 2022, consumers spent a total of $11.3 billion on Cyber Monday.2
In addition, Cyber Monday is often the start of “Cyber Week," where many items are on sale online the week after Thanksgiving.
Keep in mind that the deals actually begin a week earlier with pre-Black Friday sales, in addition to Black Friday deals. Some retailers have deals available even earlier.
If you plan on shopping during Cyber Monday, it's worth your while to start looking for the best offers early.
How did Cyber Monday Get Started?
When online shopping became commonplace, getting consumers into retail stores during Black Friday wasn't as important. To capitalize on the shopping craze, retailers came up with the term “Cyber Monday."1 Since Cyber Monday followed Black Friday, it extended the shopping weekend. People could even shop online for sales when they returned to the office after the long weekend.
Although it depends on the retailer, Cyber Monday deals tend to differ from what's available on Black Friday. This is a marketing strategy to get shoppers to check back frequently to see if there are better deals.
When is Cyber Monday?
Traditionally, Cyber Monday starts at 12:01 a.m. on the first Monday following Thanksgiving. The event then ends at 11:59 p.m. However, not every retailer follows that exact schedule.
The Best Cyber Monday Gift Is for Yourself
While many people typically buy items that bring them immediate joy during Cyber Monday, there's also an opportunity to give yourself peace of mind by investing in your future.
Starting on Cyber Monday (Nov. 27), Synchrony Bank will offer certificates of deposit with an enhanced interest rate. These increased rates are only available for a week, so it's an excellent opportunity for those looking to save.
In case you need a refresher: A certificate of deposit (CD) is a deposit account that pays you a guaranteed rate of return if you're willing to keep your money in for a fixed period, such as six months, one year or five years. Both your initial investment and the interest earned are guaranteed, so CDs are a low-risk product.
Instead of purchasing consumer goods during Cyber Monday, buying a certificate of deposit is like giving yourself a better future. The increased interest rates being offered at this time by Synchrony Bank are just icing on the cake.
There's nothing wrong with buying gifts for others during Black Friday and Cyber Monday, just don't forget to gift yourself something. Check out Synchrony Bank's certificate of deposit rates now.
Is Cyber Monday Worth It?
When deciding if Cyber Monday is worth it, there are a few things to consider.
First, since Cyber Monday takes place entirely online, you could say it's worth it since you don't need to deal with the crowds found in-store on Black Friday. In addition, there's much more stock online and it's often replenished throughout the day, so you have a better chance of snagging a deal than when you shop in person.
As for what to buy, the best deals on Cyber Monday are traditionally computers, clothing, travel and online subscriptions.3 Electronics, appliances and skin/beauty products also tend to be popular. If you were planning to buy those items anyway, and they go on sale during Cyber Monday, it's worth it.
Barry Choi is a personal finance and travel expert. His website, moneywehave.com, is one of Canada's most trusted sites when it comes to all things related to money and travel. You can reach him on X: @barrychoi.
LEARN MORE: 14 Grinch-Free Ways to Save Money this Holiday Season
Sources/references
1. What you need to know about Cyber Monday. Amadeo, K. (2022, Nov. 9). The Balance. Accessed Sept. 1, 2023.
2. Adobe: Cyber Monday Drove $11.3 Billion in Online Spending, Breaking E-Commerce Record. (2022, Nov. 30). Adobe. Accessed Sept. 1, 2023.
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