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Shoppers Hunt For Bargains On 'Cyber Monday'

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Nov 30, 2009 8:24 am US/Eastern

Shoppers Hunt For Bargains On 'Cyber Monday'

 CBS News Interactive: PC Perils

By CBS 2's Kathryn Brown
NEW YORK (CBS) ― "Black Friday" may be gone, but that doesn't mean you've missed the best buys of the holiday season. Today is "Cyber Monday," when millions of people avoid crowded stores to do their bargain hunting online.

"Cyber Monday is basically the online equivalent of Black Friday," said Ellen Davis of the National Retail Federation. "Many retailers are offering deep discounts, free shipping, free gifts with purchase and percentages off the entire site."

Nine in ten retailers are offering sales on their website, on everything from books and DVD players, to jewelry and even hotel rooms.

"Expect the deals to be very competitive and if you're a shopper, expect to save yourself quite a bit of money," added Davis.

The point-and-click method is especially enticing for consumers who saw the huge Black Friday crowds and just kept going.

"When I drove by and looked at the traffic, I said, 'no, no, let me keep going," said one unidentified shopper.

The alternative, agrees shopper Brianna Lesnik, is to go online instead of waiting in line.

96 million shoppers are expected to log on and surf the internet for sales. Amazon.com estimates its sales will skyrocket 36 percent this year. But most retailers need all the help they can get.

According to the National Retail Federation, more people are shopping this year, but they are spending less money, about $50 less, on average.

"Competition is fierce in the retail industry and the lines are blurring. Online retailers are competing with offline retailers, grocery stores are competing with toy stores. What that means for shoppers is that the deals are going to be good," said Davis.

The question is, will they be good enough?

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