Online retailers are braced for their busiest day of the year as consumers take part in the annual pre-Christmas shopping spree dubbed Cyber Monday.
Recent years have seen online shopping figures consistently peaking on the first Monday in December, probably explained by most UK consumers having just received their last pay cheque before Christmas.
Visa Europe predicts £320 million will be spent on its cards alone as online transactions top 6.8 million, an increase of 21% on last year, making December 3 the busiest online shopping day in history.
A combination of pay day for the majority of consumers falling on the last Friday of the month and a weekend spent browsing the shops results in shoppers logging on to buy their gifts online on the subsequent Monday, a Visa Europe report has found.
Amazon.co.uk have predicted that Cyber Monday is set to be its biggest single day, with orders set to peak at 9.20pm.
Marks & Spencer also said it was prepared for what it expects to be its busiest day of the year.
Online analyst Experian expects UK consumers to make 115 million visits to retail websites on this year's Cyber Monday, an increase of 36% on last year.
Asda Direct says it is expecting to see a 50% spike in traffic to its electronic equipment retail section, compared with a normal Monday.
CD sales are also expected to increase by 70%, while some popular DVD titles are due for a 50% rise, the retailer said.
John Lewis have reported a record week for its online sales, soaring to £37.9 million, and the third best ever week for John Lewis department stores, topping £124.2 million.