Cyber Monday Sales

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Monday, November 29, 2010 - 5:33pm

The start of the holiday shopping season moves online today. Jay Gray reports.

Looking to maintain momentum started on Black Friday retailers are now turning to key strokes and mouse clicks as the holiday shopping season continues on Cyber-Monday.

The National Retail Federation predicts more than 106-million shoppers will be looking for deals online Monday, up 11-percent from last year.

"Our busiest days are yet to come, but Cyber Monday is a big day and we love it," says Amazon.com's Craig Berman.

That love was first sparked over the weekend with shoppers spending 6.4 percent more than last year to start the buying season.

"If the holiday season fares as well as we expect, which is about $447 billion in sales, it will mean another sign, hopefully that the economy is beginning to recover," says the National Retail Federation's Ellen Davis.

The increase in spending could have an effect on those looking for that perfect gift at the perfect price.

"The inventory levels aren't there, so if you're looking for something that you must have under the Christmas Tree this year, buy it when you see it," says Davis.

Advice shoppers seem to be heeding.

Analysts say as many as 80-percent of those shopping for holiday gifts will make some or all of their purchases online, compared to 65-percent who plan to visit retail stores.
 

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