Cyber Monday expected to bring in $1.5 billion - Los Angeles Local News, Weather, and Traffic

Cyber Monday expected to bring in $1.5 billion

Posted: Updated:
MYFOXNY.COM/AP -

Retail experts expect Cyber Monday to be the biggest online shopping day 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, as retailers have ramped up deals to get shoppers to click on their websites.

Cyber Monday is a marketing term created in 2005 by the shopping trade group The National Retail Federation, who noticed a rise in online sales on the Monday following the Thanksgiving holiday.

Retailers count on Cyber Monday to jump-start the holiday shopping season.

Amazon.com, which is starting its Cyber Monday deals at midnight on Monday, is offering as much as 60 percent off a Panasonic VIERA 55-inch (140-centimeter) TV that's usually priced higher than $1,000. Sears is offering $430 off a Maytag washer and dryer, each on sale for $399. And Kmart is offering 75 percent off diamond earrings and $60 off a 12-in-1 multigame table on sale for $89.99.

Financial experts believe how well retailers do on Cyber Monday will offer insight into the country's evolving shopping habits during the holiday season. The growth in high speed Internet access and the wide use of smartphones and tablet computers are the reason why customers are relying less on their work computers to shop than they did when Shop.org, the digital division of trade group The National Retail Federation, coined the term "Cyber Monday."

This has caused the period between Thanksgiving and Cyber Monday to become busy for online shoppers.

  • New York State NewsNew York State News

  • Friday, May 24 2013 12:50 PM EDT2013-05-24 16:50:33 GMT
    County sheriffs have asked to join the federal lawsuit challenging New York's tough new gun restrictions, calling some provisions vague and impossible to enforce fairly.
    County sheriffs have asked to join the federal lawsuit challenging New York's tough new gun restrictions, calling some provisions vague and impossible to enforce fairly.
  • Tristate rain

    Thursday, May 23 2013 8:50 PM EDT2013-05-24 00:50:04 GMT
    Heavy downpours sparked flash flooding across the tristate area on Thursday. The National Weather Service issued numerous weather alerts for many counties in New York, New Jersey, and Connecticut.
    Heavy downpours sparked flash flooding across the tristate area on Thursday. The National Weather Service issued numerous weather alerts for many counties in New York, New Jersey, and Connecticut.
  • Two West Point cadets are being credited with rescuing two stranded kayakers on the Hudson River.
    Two West Point cadets are being credited with rescuing two stranded kayakers on the Hudson River.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2013 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices