While Black Friday (News - Alert) is a huge draw for those looking for great deals the day after Thanksgiving, there are many who would rather not fight the crowds at five o’clock in the morning. For consumers seeking deals they can access from their browser, Cyber Monday (News - Alert) is sure to deliver.

Reuters has reported that most Internet retailers are planning to offer special promotions on Cyber Monday, the day following the Thanksgiving weekend. This day is touted as the official kickoff of the online holiday shopping season.

According to a survey conducted by online shopping site Shopzilla for Shop.org, the Internet division of the National Retail Federation, nearly 84 percent of online retailers plan to have a Cyber Monday promotion. This figure is well above the 72 percent who planned to participate in promotions on this key day last year.

To provide an additional incentive to purchase, nearly 25 percent of retailers also plan to offer free shipping on all purchases. Amazon could be considered the pioneer in this area as the online retailer has offered free shipping on purchases for the holidays for years. This strategy has paid off and the company extended such options for year-round shopping.   

The term Cyber Monday was coined as many consumers return to work the day after the Thanksgiving weekend and use their high-speed Internet connections in the office to search deals not found at brick-and-mortar retailers. And, more than likely many of these consumers are still recovering from the weekend and are not very motivated to be productive in the office.

Cyber Monday was a big day for sales last year. Internet research firm comScore reported that U.S. buyers spent $733 million on Cyber Monday in 2007, up 21 percent from 2006.

Despite this strong performance in the past, sales forecasts for this year are expected to be weak. Both physical and online retail stores are feeling the credit crunch, ongoing housing slump and global financial meltdown. Shoppers are cutting all but the most essential items and retailers increasingly have to offer merchandise at deep discounts.

Both Amazon and eBay have forecasted a weaker holiday this year. Forrester Research (News - Alert) said this autumn that U.S. online sales are projected to grow a mere 12 percent – the lowest-ever jump since online sales have been tracked.

Forrester also reported that roughly one-third of online buyers are planning to spend less this November and December than last year. U.S. online holiday sales in 2007 were roughly $39 billion, an 18 percent jump over 2006.

The survey found that some 25 percent of online retailers have planned a one-day-only sale. Another 33 percent reported a special e-mail campaign has been planned. Another 16 percent were offering no special deals.