Cyber Monday sales underway as shoppers look to save

Shoppers prepare for Cyber Monday With the cost of living on the rise, more people are waiting for sales in order to save a buck. CTV's Natalie van Rooy reports.

The frenzy of the holiday shopping season is here with Christmas only around the corner.

Thousands of people are logging on tonight to check out the beginning of sales for Cyber Monday.

For Carla Sabeh, her shopping bags are already full ahead of the sales.

"I bought mostly presents for my family back home and I was looking to get a jacket, but it's still expensive after the sale, so I might be waiting until Boxing Day," said Sabeh.

Sabeh plans to log on Sunday night to see if she can save on that big-ticket item on her list ahead of Cyber Monday. It's challenging for consumers who are looking to save every penny.

"Even the prices have been extremely different than the last years before," she said. "I feel like the same products compared to last year, this year, they are double the price," she said.

Experts say there will be sales for Cyber Monday, but the question is whether people can afford to shop.

"There will be some really good activity because I think retailers realize they've had to really sharpen their prices to get consumers to buy," said Bruce Winder, a retail analyst.

E-commerce giant Shopify has data that shows the average Canadian consumer plans to spend $291, the second highest amount globally after the United States, for Black Friday and Cyber Monday.

"I got a pair of sneakers, I was looking for those on sale, and I got Christmas presents and an air fryer," said Alicia Ross, who was shopping in Ottawa.

As many log on to scour the internet for the best deals, it can be difficult for small businesses to keep up.

"The bigger volumes you buy, the better prices you get," said Winder. "If you're a small independent company, your volume isn't really that big, so it's really difficult to buy products at the volume that you need to get the prices to compete with the big box stores."

Winder says even medium sized businesses like Bad Boy Furniture and Mastermind Toys, have been the latest businesses to announce bankruptcy amid a challenging economy.

"If those folks are having a hard time, then it's even harder for the independent businesses," he said.