Shoppers go out in force for 'Mega Monday'

NEW YORK -- It is fast becoming one of the busiest shopping days of the year, the day after Christmas when retailers are offering deep discounts and shoppers are looking to exchange unwanted presents.

In fact, an estimated $46 billion in gifts will be returned this holiday season.

Overall, holiday shopping was up 3.5 percent over last year, but this next week is crucial for retailers' year end numbers.

And that is why big sales can be found out there.

Retailers are advertising big salesm 30 percent off, 50 percent off, even 70 percent discounts.

Warren scored a great deal for his wife on this Michael Kors purse, almost half off at Lord and Taylor.

"It's usually $398 and I got it for $228. That's a good deal," he said.

Analysts are calling today Mega Monday and it's supposed to be the third biggest shopping day this year.

Consumer Reports found that four in ten Americans will shop today while 82 percent say they're here for the sales, 47 percent are redeeming their gift cards and 31 percent are returning gifts.

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business, jen maxfield

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