Cyber Monday Gives Consumers a Second Chance to Spend

Did you brave the shopping crowds on Black Friday this year? If you did, you certainly weren't alone! According to CNN:

More than 140 million shoppers hit the stores on Black Friday weekend, spending an average of $360.15, up 18.9 percent from last year's $302.81, estimated the National Retail Federation.

A survey by ShopperTrak estimated a 6 percent sales increase overall for Friday alone, to $8.9 billion.

Don't worry if you missed out on the big Friday sales...you still have a shot at the early Christmas deals online today. The Monday after Thanksgiving has been dubbed "Cyber Monday" in recent years for the surge of online shoppers who login at work for great deals  on gifts. An expected $32 billion in online sales could take place today.

WalMart.com is rolling out special deals online all week and BestBuy.com is promoting a two-day Cyber Monday sale. Cyber Monday actually provides a good opportunity for savvy deal hunters who hate the holiday crowds. Here are some tips for shopping safely on Cyber Monday:

• Use a credit card - Online purchases get an added layer of security when made with a credit card. You'll be protected against fraudulent charges or problems with your order.
• Compare before you buy - One of the best parts of shopping online is the ability to quickly compare prices. Check to see if that special discount really is a good deal before deciding to buy.
• Look at shipping costs before you click - Shipping costs can add a huge amount on to your order. Try to find deals that include free shipping for heavy items such as large electronics or request to pick up your package in the store.
• Skip the financing - Many online retailers now offer financing programs in just a few clicks. But these deals can damage your credit score and add to the cost of your purchase. It's better to pay with cash or a credit card if you can.
• Avoid warranty offers - Extended warranty offers are rarely a good value. In fact, Consumer Reports just released a study recommending against warranty or service plan programs.
  
• Don't hit the back button - You could end up resubmitting your order and buying two plasma televisions instead of one.

And remember: don't go overboard! Does it really make sense to buy your grandmother a $300 digital camera instead of a $30 sweater for Christmas this year?

Have you found a great Cyber Monday deal? Or do you have a tip for online shoppers today? Share your feedback in the comments section!