Fox News reports:
Stores are counting on the so-called Cyber Monday to be the biggest online shopping day of the year in the U.S. for the third year in a row.
Americans are expected to spend $1.5 billion, up 20 percent from last year on Cyber Monday, according to research firm comScore, as retailers have expanded their deals to get shoppers to click on their websites.
With consumer spending making up 70 percent of the still-struggling U.S. economy, coaxing Americans to shop this Christmas season is key.
A U.S. shopping trade group coined Cyber Monday after noticing that online sales spiked on the Monday following the Thanksgiving holiday.
Retailers are hoping the deals will appeal to shoppers like Matt Sexton, 39, who for the first time plans to complete all of his holiday shopping online this year on his iPad tablet computer. Sexton plans to spend up to $4,000 this season.