NEW YORK — Americans clicked away for deals on Cyber Monday, which is expected to be the biggest online shopping day in history.
It's estimated this year's Cyber Monday will be the biggest online shopping day of the year for the third year in a row. According to research firm comScore, Americans are expected to spend $1.5 billion, up 20 percent from last year on Cyber Monday.
Early results show that online shopping was up 24.1 percent compared with the same time period a year ago, according to figures by IBM Benchmark released at noon. Sales from mobile devices, which include tablets, rose 12 percent. The group does not track dollar amount sales.
The strong start to Cyber Monday, a term coined in 2005 by a shopping trade group that noticed people were doing a lot of shopping on their work computers on the Monday following Thanksgiving, comes after overall online sales rose during the four-day holiday shopping weekend that began on Thanksgiving.
"Online's piece of the holiday pie is growing every day, and all the key dates are growing with it," said Forrester Research analyst Sucharita Mulpuru. "The Web is becoming a more significant part of the traditional brick-and-mortar holiday shopping season."
The period between Thanksgiving and Cyber Monday has become busy for online shopping as well. Online sales on Thanksgiving Day, traditionally not a popular day for online shopping, rose 32 percent over last year to $633 million, according to comScore. And online sales on Black Friday were up 26 percent from the same day last year, to $1.042 billion. It was the first time online sales on Black Friday surpassed $1 billion.
For the holiday season-to-date, comScore found that $13.7 billion has been spent online, marking a 16 percent increase over last year. The research firm predicts that online sales will surpass 10 percent of total retail spending this holiday season. The National Retail Federation estimates overall retail sales in November and December will be up 4.1 percent this year to $586.1 billion.