Experts estimate that Cyber Monday will top a record-breaking $1.5 billion in sales to become the largest online shopping event in history, with blockbuster deals that rival or exceed Black Friday doorbusters.
"We believe you'll find better deals and savings if you shop online from the comfort of your home or work," said Howard Schaffer, CEO of the Internet deal aggregator Offers.com. "We don't see any reason to risk going to the store and having to deal with the chaos of parking."
Consumers are increasingly savvy about online discounts. And in an increasingly mobile landscape, 45 percent of consumers are likely to use a smartphone or tablet to shop this holiday season, according to RetailMeNot.
Fueled by this growth in mobile commerce, the number of U.S. online holiday shoppers is expected to grow 3 percent from last year. But the amount of money those shoppers spend is increasing even more, according to a recent report by Forrester Research. The average U.S. holiday shopper will spend $419 online, a 12 percent jump over last year, Forrester estimates.
Cyber Monday spending has more than doubled from the time the term was coined in 2005 to last year, when consumers spent $1.25 billion.
This year, shoppers are expected to "showroom" certain products beforehand, with 42 percent heading to stores to do an in-person check of an item with the intention of purchasing it on Cyber Monday, according to CouponCabin.com.
The online bonanza is shaped by market conditions that have retailers offering better deals than last year because they are more focused on marketshare than profits, said PriceGrabber spokesman Rojeh Avanesian.
"We got politicians talking about the fiscal cliff, high unemployment and the recent Hurricane Sandy," he said. "Retailers are responding accordingly with deep discounts."
Avanesian said shoppers should be able to purchase a 55-inch 3D LCD TV for under $1,400 for the first time this year, and get a decent laptop for under $200.
Other Cyber Monday highlights include:
• Walmart.com will offer the Xbox 360 Skylanders Family Fun Bundle for $159, a nearly $100 savings.
• Radioshack.com will offer 24 so-called amazing deals in 24 hours, including a digital camera at 44 percent off and a GPS Navigation System for $70 off at $60.
• Macys.com will lower its free shipping threshold to a $75 minimum on all online purchases.
Kmart.com and Sears.com are expected to pull out all the stops this year, Schaffer said. But as with most retailers, the details of sales won't be divulged in advance.
One big reason to shop Cyber Monday: Four in 10 online retailers are expected to offer free shipping without conditions, according to Shop.org's eHoliday survey.
The online analytics service comScore advised retailers: "Consumers are showing renewed signs of optimism heading into this year's shopping season, and it's never too early for online retailers to win a fair share of their spending."
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