Online Retailers Reap Profits on Cyber Monday

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Cyber Monday was a big moneymaker once again for online stores.

From discounted Ipods to cheaper GPS systems, retail web sites offered big deals to cash in on the wave of shopping that kicked off on Black Friday.

One company that tracks the sales says by Monday afternoon, sales for the day were up 20 percent over last year.

Last year shoppers spent almost $850 million on Cyber Monday alone.

Retailers say e-commerce has grown 21 percent in the last year, compared to just five percent for traditional sales. estimates that its sales will be as much as 36 percent higher this year.

The Internet now accounts for about 10 percent of holiday shopping.

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