Many Stores Extending Cyber Monday into 'Cyber Week'

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Cyber Monday was a big success for online retailers looking to snag a piece of the Christmas shopping pie. Consumers proved that even after a busy shopping weekend there was money left to spend.

Millions of Americans logged onto e-commerce sites, taking advantage of deals ranging from free shipping to steep discounts, all from the comfort of their homes.

When the totals are all added up, Cyber Monday sales are expected to top the $2 billion mark for the first time, according to research firm ComScore. The estimation is 20 percent higher than the total sales last year.

"On Cyber Monday we tend to see deeper discounts. Deeper discounts are anything 40 percent or above," Kristen Nelson, with Retailmenot.com, said. "If you see anything 40 percent and above, take  it. It's a good deal."

Brad Wilson, with Bradsdeals.com, said this is the single largest e-commerce day all year round.

"It's every store putting their best foot forward," he said.

Amazon offered "lightning deals" every 10 minutes, including a Kindle Fire for $50 off. On Walmart.com, online shoppers could snag an iPad for $150 off. Then there was 50 percent off at Old Navy, 40 percent off at H&M, and the list goes on.

"I like a deal, doesn't everybody?" online shopper Karen Cortes said.

"People are looking for good deals. Money is short and time is short and for those who like to shop quick and easy, it's definitely beneficial," Shopper Michele Taylor said.

Online retailers that cater to smart phone users benefited the most. This year, mobile shopping accounted for 30 percent of all online sales, 61 percent more than from last year.

Cyber Monday also means big business for shipping companies. Last year FedEx moved 20 million shipments after the busy online shopping day. This year they expect to break that record.

"Today we're expecting to break our totals by more than 10 percent from last year - expecting to ship 22 million packages today. Record numbers for us - very excited about the volume coming in," FedEx Operations Manager Steve Hornstra said.
More shipping means more jobs during the holiday season.

"Last year FedEx hired 20,000 for the holiday, this year hiring more. Fantastic for the economy - creating jobs so it's a win- win," Hornstra added.

Analysts say if you missed this weekends sales, you could still have another chance. Stores like Target and Sears are turning Cyber Monday into "Cyber Week" and extending online deals.

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