Online shoppers looking for huge deals on Cyber Monday

Online shoppers are ready to get some huge deals on Cyber Monday -- the biggest online shopping day of the year.

As many stores decided to open earlier this year for Black Friday, some also started their Cyber Monday sales on Sunday. Retailers like Amazon and Walmart have now extended the deals through the week hoping shoppers will open up their wallets more and more.

Online retailers reported a 26 percent increase in sales on Black Friday from last year, as opposed to a 7 percent increase in sales at retail stores. And they're hoping that trend will continue.

Last year's Cyber Monday sales topped $1 billion and that record is expected to be broken this year.

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