Reasons behind Cyber Monday shopping peak

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.

Retailers are predicting online shopping transactions will peak on Monday evening.
Retailers are predicting online shopping transactions will peak on Monday evening. Credit: PA

“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.”

Read: In numbers: Online shopping records set to be broken

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Today 'busiest for online sales'

Online retailers are expecting their busiest day of the year today, dubbed "Cyber Monday".