Black Friday may bring out the holiday shopping crowds, but Cyber Monday is increasingly generating the biggest bucks for retailers as consumers hop online to make merry and find gifts for the holidays. According to data from IBM Coremetrics and comScore, Cyber Monday sales rose 20% in 2010 and topped $1 billion in online spending—the first year ever that Cyber Monday bested the sales generated on Black Friday, which totaled $648 million last year.

This year, experts predict Cyber Monday sales will also rise significantly thanks to a host of new online shopping apps and consumers’ growing comfort with technology. If you’d rather shop online from the comfort and convenience of your own home, take these unique steps to make the most of your holiday shopping on Cyber Monday.

Get On the List

The single best strategy to unearth Cyber Monday bargains early is to get on a good deals list put together by experts who are tracking retailers’ offers. Dealnews.com is hot on the case this year. By Monday night, the site already had information about “leaked” Black Friday ads with both rumored and confirmed deals from such retailers as Amazon, Best Buy, Costco, Lowes, Sears, Target and Wal-Mart.

To get email, text alerts or an RSS feed about Black Friday or Cyber Monday deals sent to you, all you have to do is provide Dealnews.com and other sites like it with your email address. Dealnews.com also has a free Black Friday app available for iPhone and Android users.

Forget Monday—Get Online Thanksgiving Day or Black Friday

Here’s one Cyber Monday strategy that may not have occurred to you: Get online early—as in, a couple of days early (like right now). According to the experts at Dealnews.com, if you start hunting online for must-have holiday gift items on Cyber Monday, you risk being sorely disappointed and getting just “leftovers.”

“For those of you who’d rather fully digest your Thanksgiving meal and not stand on line starting at 3am on Black Friday, we understand. Shopping for the best deals can be exhausting, but if you wait until Cyber Monday you will be missing out on some of the highest markdowns of the holiday season,” the staff at Dealnews.com recently wrote, in giving consumers holiday shopping pointers.

“Coming out of your tryptophan daze on Monday, you’ll definitely see retailers’ sales, but these bargains are essentially the leftovers from the Black Friday feast. Plus, many Friday offerings will be available online, so you really have no excuse for a late start,” Dealnews.com experts added.

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(Image: ThinkStock)

Consider Buying Discounted Gift Cards Online

Instead of purchasing physical gifts, many people will buy family members, friends or co-workers gift cards for the holidays. In fact, according to the TD Bank Holiday Shopping Poll, 64% of respondents said they plan to purchase gift cards this year.

“With the majority of consumers looking to spend the same as last year, gift cards are a perfect option to keep holiday spending in check,” says Nandita Bakhshi, Executive Vice President, Head of Products, TD Bank. “Giving a gift card reduces shopping stress, you spend exactly what you intend to, and are less likely to get caught up in the season and spend more money than planned.”

But one reality about gift cards is that they often go unused. As a gift-giver, that can work to your favor since an ongoing supply of unused gift cards means that you don’t have to spend $50 to get someone a $50 gift card. In fact, there are thousands of discounted unused gift cards available for purchase at savings of up to 30% off the face amount of the gift card.

Here’s how it works. You have the option to buy a discounted gift card through reputable gift card depots or an online gift card network such as CardHub.com’s Gift Card Exchange, which is the largest in the country. While online, you’ll see a slew of retail gifts cards, including Target, GameStop, iTunes gift cards, and more. You simply decide on the store and see what gift card amounts are available and at what discount. As of Monday evening, on Card Hub’s Gift Card Exchange, there was a $50 H&M gift card being offered for $40, a 20% savings; a $40 Barnes & Noble gift card available for $30, a 25% discount; and a $200 Home Depot gift card being sold for $140, a 30% discount.

“The beauty of buying someone a discounted gift card is that they’ll never know you paid up to 30% less than face value for it,” says Card Hub CEO Odysseas Papadimitriou. He adds: “As far as they’re concerned, a gift card’s value is equal to the amount of money it has on it, and not a penny less.”

Card Hub also lets consumers sell their unused gift cards for cash, which could come in handy if you need a few extra bucks for holiday shopping on Black Friday or Cyber Monday.

Snag Extra Perks With Your Rewards Credit Card

Speaking of cards, it’s safer to use a credit card online than a debit card because you get greater protections against fraud and you can dispute unauthorized charges. You may also get bonus rewards depending on the plastic you choose to use. And major credit card issuers are pulling out all the stops to woo their cardholders on Cyber Monday and in the days leading up to it.

For instance, American Express is offering 5X rewards through the New Year, as well as a host of deals for Cyber Week (November 21- November 30). Capital One is tempting its customers with the chance to earn 40-100% more rewards on purchases made through its Perk Central online shopping portal from November 25 through November 28.

Case in point: some of the bonus rewards offered through Perk Central from Black Friday through Cyber Monday include:

• Deals for the Fashionista: Landsend.com (100% rewards increase), Macys.com (40% rewards increase)
• Deals for the Techie: Lenovo.com (100% rewards increase), TigerDirect.com (67% rewards increase)
• Deals for those with Kids: Lego.com (100% rewards increase), Gamestop.com (40% rewards increase)

Chase and Discover have special holiday-shopping promotions, too.

Don’t Forget Cyber Safety

While you’re salivating over holiday bargains, don’t forget to exercise some basic online shopping safety, too. A recent TransUnion survey found 74% of Americans surveyed plan to do at least some of their holiday shopping online. At the same time, 35% of Americans surveyed said they were more afraid of becoming the victim of identity theft during the holiday shopping season.

To avoid this problem, use the following strategies.

Before you start Web surfing on Cyber Monday or earlier, consider changing your account passwords and keep a list of them in a secure place. For your passwords and PIN numbers, select a random mix of letters, numbers and special characters, making it harder for identity thieves to victimize you. Don’t make the mistake of using your address, date of birth or something else that could be easily guessed.

Also, only shop at trusted sites and before you make an online purchase look for an “s” in the address box (i.e. https://), which indicates that it’s a secure site.

Finally, since you may be shopping at many sites or may be subjected to a lot of pop-up ads and other things, it’s best to make sure your computer has spam filters, anti-virus and anti-spyware software and a secure firewall.

Shopping online during Cyber Monday can be fun and convenient, but take care to make your Web-based holiday shopping safe, too.

Watch below to see which Black-owned businesses folks are supporting this holiday season

Swap your gift cards and buy products you'll actually want.

As the holidays approach, many well-meaning friends and relatives will be doling out gift cards—often because they don’t know what else to buy. Now, technology and new Federal Reserve Board rules can make these cards even more of a gift and less of a hassle.

Many shoppers, like Abbrea Askew, have received their share of gift cards for stores they don’t frequent. The 31-year-old stay-at-home mom was looking for a way to get rid of these cards and, through a Google search, learned about GiftCardRescue.com, an online marketplace for selling and buying gift cards. “It works out really well for me,” says the Atlanta resident. “I can stock up on the things I need instead of being stuck shopping at certain stores.”

Says Gerri Detweiler, a personal finance expert at Credit.com: “The good thing about selling gift cards is the ability to turn your card into something you can use, and most of us can use cash. The bad thing is, of course, that you won’t get the full value of the gift card because the company’s going to take their cut for helping facilitate the trade.”

GiftCardRescue pays 65% to 90% of the card’s value. Consumers earn more for popular gift cards, such as those for Walmart, or if they choose an Amazon.com shopping credit, says CEO and founder Kwame Kuadey. Other websites for buying and selling gift cards include Plastic Jungle, Swapagift, UpYourCard, and Card Pool.

Kuadey advises consumers to do their homework. “People go to eBay or Craigslist, but the danger with that is you’re getting the cards from a stranger,” Kuadey says. “You’re trusting that the person who is buying from you will mail you a check. When you’re buying, you’re trusting that the person you pay will mail you the gift card.” Askew also suggests, “When you get the card, make sure the balance is on it.” Pay close attention to the company’s policies, she adds.

A gift card exchange worked for Askew, but holding on to cards doesn’t have to be a waste anymore. Now, thanks to the Federal Reserve Board, there may be less of a rush to sell or trade. The gift card business reportedly exceeded $88 billion in 2009. An estimated 6% of cards went unredeemed or expired last year for reasons such as owners losing the cards or simply forgetting about them. “Very often, if the card is lost, it’s like losing cash,” says Ben Woolsey, director of marketing and consumer research at CreditCards.com.

But if the card is located up to five years later, this is now no longer the case. In light of new Federal Reserve rules for conventional gift cards purchased on or after Aug. 22, consumers may hold on to their cards—gift certificates included—without worrying about their value expiring. Cards won’t expire for five years from the date value was last added to them. Among the other changes: Consumers will clearly be made aware of potential inactivity or service fees, which should not apply unless the card goes unused for one year. To learn more, go to the Federal Reserve website.

With gift card exchange programs, in addition to government reform, you’ll get a gift you want when you want it.

The average family will spend more than $600 on school supplies this year.

Summer is coming to a close. It’s almost time to stay up late checking homework, pack lunches, and shuttle the kids back and forth to school once again. I’m sure you just can’t wait. But before you think about all the fun you’ll have, be on the lookout for deals on back-to-school items for the kiddies. With families spending more than $600 on school-related needs such as clothes, shoes, electronics, and supplies, there’s little doubt you’re looking for a way to save on your shopping trip. The following Websites will help you stretch those dollars into the next school year.

VistaPrint is offering free school supplies. All you have to pay is the cost for processing and shipping. Some of the site’s offerings include free T-shirts, wall calendars, and mailing stamps.

Overstock has a special section on its site dedicated to back-to-school shopping. Items are on sale for very young students up to college age. Overstock makes your shopping experience easier by organizing items according to grade and category. There’s even a section for teachers.

RetailMeNot also has a special back-to-school section. It features promo codes, discounts, and coupons for store such as Children’s Place, Barnes & Noble, and Office Depot.

Check out the Twitter site Early Bird Offers, which advertises the latest deals for back to school items such as backpacks and clothing.

Bizrate allows you to compare prices on everything from electronics to clothing. You’ll be able to get the best price and save time since you don’t have to check individual Websites. When you type “back to school” in Bizrate’s search engine, you’ll see a list of items for kids, teens, and college students.

For more advice on getting the best steals and deals, check for Shopping Insider every Friday at BlackEnterprise.com.

Sheiresa Ngo is the consumer affairs editor at Black Enterprise.

This  service is only available to MasterCard holders, who must enroll in the program to participate. It’s currently free of charge, although cardholders also have the option of upgrading to MasterCard Marketplace Plus for an annual fee of $29.95. MasterCard MarketPlace Plus gives cardholders access to deeper discounts (up to 20% to 50% off selected items) as well as free shipping and exclusive sales and promotions. Some of the retailers participating in MasterCard Marketplace are Land’s End, Target, and The Home Depot.

While using this online marketplace might be convenient, it does raise concerns regarding privacy. MasterCard has partnered with NextJump, a company that tracks consumer behavior and uses the information to assist retailers with personalizing the products they offer consumers. When you use MasterCard Marketplace, your shopping habits are tracked through features such as tracking cookies in order to monitor your activity on the Website. For example, if you buy a lot of shoes on this site, you’ll start to get offers and discounts from various shoe stores.

Furthermore, in order to access the daily offers, you’ll need to link your MasterCard credit, debit, or prepaid card to their Website. Unless you choose to opt out, NextJump collects and stores payment information, which includes your name, address, card number, security code, and expiration date.

While shopping from home can be easy and enjoyable, it’s important to make sure you stay safe while shopping online. Take extra precaution when signing up for services and alerts on Websites. Use these three tips to guide you.

Carefully read the privacy notice. Find out what information is being collected about you, how, and why.

Exercise your right to opt out. If you’re given the option to prevent personal information from being collected and stored, take it. If a retailer’s database is ever compromised, your stored information could be at risk.

Educate yourself. Learn how to stay safe online. Websites like OnguardOnline.gov and StaySafeOnline.org give tips on how to protect your personal information while on the Web.

Sheiresa Ngo is the consumer affairs editor at Black Enterprise.

Alfred Edmond Jr.

Yesterday, Black Enterprise Managing Editor Alisa Gumbs forwarded a press release to our entire content team announcing retail chain Sears’ promotion of online layaway at barbershops to potential shoppers, so that they could experience the service firsthand. The release was accompanied by a photo of Ronald Larry, a regular patron of De’ Bon’s Barber Shop in Chicago, test driving Sears’ new online layaway program for the first time.

“Now that Sears has layaway online, not only is it easy on my wallet,” Larry is quoted as saying in the release, “it’s easy on my time. I can even get that new flat-screen TV I want, and have it in time for Christmas.”

Gumbs response to this expression of shopping glee is a refrain that echoes often around the offices of Black Enterprise: “This is a hot mess.”

I was confused by her response. I couldn’t see why making layaway more available and accessible as a shopping option, especially given the current economic environment, couldn’t be a good thing. When I pressed her on this point, she responded, “You don’t find anything funny about Sears going into barbershops to try to get black people to use modern technology to buy high-end electronics that they can’t afford—on layaway?”

The truth is, I found it both funny and ironic. However, without layaway and online technology, these same people were still buying high-end electronics that they couldn’t afford, only they were doing it using high-interest credit cards.

With credit cards, they were paying in installments after the purchase and being charged compounded interest to boot. With layaway, they pay the installments in advance, only buying the merchandise after they’ve reached their “savings” goal, and without incurring the interest charges and other fees that are the vast majority of burgeoning credit card balances. With layaway, you have to budget for the purchase, and you have to really want it, since you have to pay nonrefundable fees to participate and failing to keep up with the payments could mean losing all or part of your deposits, depending on the policy of the retailer. Layaway eliminates impulse buying and forces delayed gratification, even if it’s for an item you shouldn’t be buying in the first place.

Back in the day, up until the 1980s or so, layaway was a very prominent option for low- and middle-income shoppers. Then more Americans began to gain access to credit cards, until we finally reached a point where just about anyone (including unemployed college students) could get them—even if they did come with sky-high interest rates and a myriad of fees and penalties in the small print. Layaway faded away as a shopping option, although it never really disappeared.

The buy-now, pay-later mentality of credit cards has been a major factor in reckless and irresponsible consumer behavior. Replacing layaway plans with easy access to high-interest credit has had devastating consequences for lower- and middle-income families, and black people in particular. The public embarrassment of buying goods on layaway (an admission that you were too poor to just buy what you wanted outright), has been replaced by the private shame of crushing credit card debt. I’d rather see people use layaway to save toward buying that flat-screen TV outright, than watch them use credit cards to borrow the money to buy it now, only to pay several times it’s retail price in interest and fees for months and even years after the purchase.

But now, with Americans struggling with high unemployment, job insecurity and a difficult economy, and retailers desperate to lure shoppers back into stores, layaway is making a major comeback. Now retailers including Sears, K-Mart and Toys-R-Us are trumpeting installment payments as a time-saving, cost-effective option for those looking for the ways to reduce pressure on limited household budgets. There are even online layaway service providers, such as eLayaway, allowing shoppers access to a variety of participating retailers. I think that’s a good thing, and Gumbs agreed with me. There’s just this one little thing:

“My issue with Sears targeting blacks in barbershops for online layaway is: How do you think they’re making online payments for their layaway?,” says Gumbs. “I’m betting it’s with those same high-interest credit cards (the accepted online payments are Sears Card, Sears MasterCard, Visa, MasterCard, Discover, American Express, Sears Gift Card, PayPal).”

Ruh Roh! She had me there. Using credit cards to make installment payments on that giant flat-screen cancels out the primary benefits of layaway plans, at least in terms of encouraging financial discipline and the save-for-what-you-want mentality we need to embrace if we are to avoid excessive debt, maintain a positive household net worth and ultimately build wealth for life.

I still applaud the comeback of layaway. But if you’re going to choose this option, do it the old-fashioned way. Make installment payments with the money you actually have in your pocket. (Or in the bank, if you can use your debit card. But you’ll have to monitor your bank account like a hawk to make sure you keep balances high enough to avoid overdraft fees if there’s not enough in the account to cover your layaway payments). Please, please don’t use credit cards to borrow money to make layaway payments.

Alfred Edmond Jr. is the editor-in-chief of BlackEnterprise.com