Wal-Mart jumps the gun, moving ’Cyber Monday' to Sunday
BY ARJUN KHARPAL, CNBC
(CNBC) - Wal-Mart is moving "Cyber Monday" to Sunday because people now have fast Internet in their homes, the U.S. retailer said Monday.
All 2,000 of Wal-Mart's Cyber Monday deals will begin Sunday at 8 p.m. ET.
The company explained that the annual shopping day — where retailers heavily discount loads of products online — was originally on the Monday after Thanksgiving so people could shop using the high-speed Internet they had in their office. But now that fast broadband is widespread, it makes no sense to keep it on that day.
"It can be exhausting for working parents and millenials to stay up past midnight to shop online, only to wake up early the next day to get ready for work," Fernando Madeira, president and chief executive of Walmart.com, said in a press release.
"By starting 'Cyber Monday' hours earlier on Sunday evening and quadrupling the number of Cyber Monday specials, we're making it easier for customers to get ahead of the busiest online shopping day of the year and save on the best gifts."
Part of the move was also influenced by the fact there is a "significant spike" in online searches for "Cyber Monday" on Sunday evening.
Wal-Mart said its merchants had "closely watched customer search and demand trends in the months leading up to the holidays" and saw spikes in the past week for "Star Wars" toys, 4K TVs, drones, Beats by Dre headphones, Fitbit and 3-D printers. Walmart.com said it has increased the number of items related to these searches.
A 65-inch LG 4K Ultra HDTV for $799 plus free shipping, as well as a Microsoft Surface Pro 3 for $599 are among the products being sold during the discount shopping days.