Records are expected to be broken in the next few hours as tens of thousands of people buy their Christmas presents online.
Dubbed Mega Monday, internet based retailers are expecting this year to be busiesr than ever. But as more of us swap the high street for the comfort of our own homes - could this be the end of Christmas shopping as we know it? Chris Halpin reports.
With Cyber Monday predicted to be the biggest ever day for online shopping, a lecturer at the business school of Birmingham City University, Dr Stephen McCabe, believes we are not seeing the death of the high-street.
Payday and the arrival of December are the driving factors behind today's expected cyber shopping surge, according to Sage Pay, which has predicted spending of more than £500 million.
“With just four weeks until Christmas, most of us will just have been paid, so Cyber Monday is traditionally the day when consumers rush online to do their Christmas shopping, said Simon Black, chief executive at Sage Pay.
“Given the breadth of shopping and payment options available to consumers, competition between retailers is greater than it’s ever been.
"Plus, with an emphasis on omnichannel and a host of newer payment technologies beginning to make their mark, retailers can find it difficult to stay that one crucial step ahead of the trends.”