Tips for finding Cyber Monday deals while avoiding scams

Published: Nov. 28, 2022 at 7:43 AM EST
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AUGUSTA, Ga. - After a record-breaking Black Friday with online sales topping $9 billion for the first time ever, shoppers are expected to spend even more on Cyber Monday, shelling out an estimated $11.2 billion.

“We see Cyber Monday to be the best time to buy for consumers across major categories. It has surpassed Black Friday as the biggest shopping day of the season and of the year a couple of years ago, and it shows no signs of slowing down,” said Patrick Brown with Adobe Growth Marketing and Insights.

Walmart is cutting prices on AirPods. Best Buy offering big deals on TVs. Gap is advertising 50% off most purchases. And amazon taking 30% off American Girl dolls and certain LEGOs.

And with inflation pushing prices up 7.7 percent from last year, parents need those deals.

Experts suggest using price comparison websites to guarantee you’re actually getting a deal.

And they advise you’re likely to get the best deal on electronics and toys on Cyber Monday, but if you want winter clothes, wait until the new year.

If you miss Cyber Monday, will there still be deals in the weeks ahead?

“The consumer can expect to see a fairly competitive in terms of price landscape over the next you know few weeks as we head toward the deadlines to get it before the holidays,” said analyst Nick Kaplan.

Scam warning

The FBI issued a warning on Twitter saying to beware of Cyber Monday scammers.

The FBI says if the deals look too good to be true, they probably are.

Make sure you are shopping on reputable websites before sharing personal financial information.

Experts also remind you to report fraud or attempted fraud if something does happen.

Toy trouble

Toys are not high on kids’ Christmas lists this year.

Sales are down 3 percent compared to the same time last year, and store managers worry they have too much inventory.

Usually, America’s two largest toy companies, Hasbro and Mattel, are counting on a flurry of last-minute shopping to help their bottom line.

Some retail experts predict many consumers will put off their toy purchases until the last minute.

The $39 billion U.S. toy industry logs about half of its annual sales in the weeks leading up to Christmas.