Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Next up: Cyber Monday, e-tailers' big day

cyber_monday.gi.top.jpg70 million Americans are expected to shop for online holiday deals from work on Cyber Monday. By Parija Kavilanz, senior writer

NEW YORK (CNNMoney.com) -- Online sellers kick off the coming week with one of their biggest sales days of the year - Cyber Monday.

E-tailers consider it their version of Black Friday. It is the day that Web merchants furiously push big discounts, free gift cards, free shipping and any other gimmick they can think of to entice consumers to spend even more of their holiday shopping dollars online.

If pre-Black Friday sales are an indication, consumers are shopping more enthusiastically both in stores and online.

Online payment service Paypal said Friday it saw a 25% increase in payment volume on Thanksgiving Day this year versus last year. PayPal also noted a 297% jump in mobile payment volume on Thanksgiving Day versus last year.

The National Retail Federation estimates that Cyber Monday deals will be much more aggressive this year.

The group said 88% of retailers will have a special promotion for Cyber Monday this year, up from 72% in 2007.

But since Monday is a working day, many consumers will try to sneak in some shopping while at work.

According to the NRF, 54.5% of workers with Internet access, or 70.1 million people, will shop for holiday gifts from the office, with the majority of those being men and young adults.

ComScore, a digital marketplace research firm, expects online sales for the 2010 holiday season will reach $32.4 billion, marking an 11% increase over the previous year for the combined November-December gift-buying period.

Sales for that two-month period rose 4% over the prior year, the firm said.

"The beginning of the online holiday shopping season has gotten off to an extremely positive start, outperforming our earlier expectations," ComScore chairman Gian Fulgoni said in a statement.

"Despite continued high unemployment rates and other economic concerns, consumers seem to be more willing to open up their wallets," he said, adding that deep sales have spurred much of that spending momentum. To top of page

Black Friday: It's busy out there!
Index Last Change % Change
Dow 17,813.39 1.20 0.01%
Nasdaq 5,116.14 13.34 0.26%
S&P 500 2,088.87 -0.27 -0.01%
Treasuries 2.23 -0.01 -0.49%
Data as of 1:14pm ET
Company Price Change % Change
Pfizer Inc 32.87 0.90 2.82%
HP Inc 12.64 -2.00 -13.66%
General Electric Co 30.36 -0.30 -0.98%
Bank of America Corp... 17.44 -0.03 -0.17%
Freeport-McMoRan Inc... 8.10 -0.20 -2.41%
Data as of Nov 25


Looks like the Magic Kingdom is lacking some sparkle. Disney's cable channels have lost millions of subscribers in recent years. More

Brazilian police arrested a prominent senator and billionaire CEO for interfering in the investigation of Petrobras, which has pushed Brazil into recession. More

Watsi crowdfunds donations to cover healthcare costs of those in need. And it's seeing a surprising trend: micro-donations via the popular Chinese social networking app, WeChat. More

Some of the coolest toys this year are from small businesses. Here are 10 hot toys that just might be a smash hit this holiday season. More

Facebook just increased the amount of paid time off new dads working at its international offices can take. More