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Cyber Monday shoppers expected to spend $1.5B

November 26, 2012 12:00:00 AM PST
Bye, bye Black Friday. Sayonara Small Business Saturday. It's Cyber Monday, the latest in a series of days retailers are counting on to kick-start the holiday shopping season.

It's that time of year where Americans show just how much they love to shop and how much they love getting deals. It used to be if you wanted to find the holiday shopping deals you'd have to brave the crowds and mall mania, but with Cyber Monday, you don't even have to leave your couch.

Retailers are enticing customers by giving big discounts. Amazon.com is offering as much as 60 percent off a Panasonic VIERA 55-inch TV that is usually more than $1,000. Sears is offering a Maytag washer and dryer for $399 each. Kmart is offering diamond earrings for 75 percent off and a 12-in-1 multigame table for $89.99, a $60 savings.

Experts are predicting this year's Cyber Monday will be even bigger than it was last year. Americans are expected to spend $1.5 billion online, which is up 20 percent. Retailers are still optimistic even though the numbers on Black Friday dropped an estimated 2 percent from last year. Experts believe it was the result of stores opening their doors earlier on Thanksgiving night and more shoppers going online.

This is the first Cyber Monday since California's new law has taken effect, forcing online retailers out of state to collect California state sales tax. The law is meant to level the playing field and remove the competitive advantage online retailers have had over local merchants.

Meantime, experts are warning against fake websites made to look real. They advise shoppers to make sure the site is secure and has an "https" in the web address. You should also use your credit card instead of your debit card.


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