NEW YORK (TheStreet) -- Black Friday is fast approaching, and about half the country is expected to wake up in the wee hours of the morning after Thanksgiving to begin their holiday shopping. But Black Friday is no longer the frenzied shopping experience it once was, thanks to deals from online retailers.

"Black Friday may not be as big as it once was, but it's still a very significant day for retail," CNBC's Courtney Reagan reported on "Power Lunch" Wednesday afternoon. "The National Retail Federation is expecting 137.4 million Americans, that's 59% of the country, will shop at some point over the weekend."

Black Friday is expected to be the busiest day of the weekend, 102 million Americans are planning to shop on that day, Reagan added. That figure is on par with what was reported last year. Black Friday online sales are expected to jump above $3 billion for the first time this year, an 11% rise from last year.

"Retailers did begin to offer some good deals earlier in the month online, which could be pulling some sales forward," Reagan added.

Many retailers will be open on Thanksgiving Day, with 29 million Americans forecast to shop on the holiday. Many consumers are wondering if the deals on Black Friday are the best retailers will have to offer, Reagan pointed out. The answer is yes in most cases, with retailers going as low as they possibly can that day.

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