How to be a savvy shopper on Cyber Monday

Americans are expected to spend more than $3 billion online on Cyber Monday, but will the savings live up to all the hype?

NewYorker.com editor and CBS News contributor Nicholas Thompson said Cyber Monday is "losing its juice" because it is beginning to blur with Black Friday.

"Instead of two discrete events, it's kind of one big mess of shopping and the numbers are down a little bit," Thompson told "CBS This Morning" Monday.

This is backed up by numbers, which indicates Black Friday this year did not draw as many shoppers as in recent years. One analyst even suggested it may have passed its prime.

Thompson agreed, saying that Black Friday changed with the arrival of Cyber Monday, which "has allowed everything to stretch."

"Also, we've become more savvy shoppers. We know how to shop, we know how to compare things, so there isn't the same incentive for stores to really pull you in and try to get you to buy everything in that one day," said Thompson.

For those who are shopping Monday, Thompson advised to look for "clarity" and "simplicity" in sales, such as Target, which is offering a 15 percent discount off all its products with a promo code.

He also advised shoppers to be "savvy," and compare prices using websites such as camelcamelcamel.com, which tracks the price history of Amazon products.

"You need to be aware that prices will probably come down in December too," Thompson added.