Cyber Monday expected to bring in $1.5 billion - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Cyber Monday expected to bring in $1.5 billion

Posted: Updated:

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 NewsMore>>

  • Hudson River Sloop Clearwater

    Pete Seeger's environmental legacy lives on

    Pete Seeger's environmental legacy lives on

    Friday, July 25 2014 6:16 PM EDT2014-07-25 22:16:30 GMT
    American folk singer and activist Pete Seeger's passion for music and the environment embodied who he was every single day of his life. In 1966, Seeger co-founded the organization Hudson River Sloop Clearwater. Ever since, Seeger's 106-foot-long sloop, Clearwater, has been sailing up and down the Hudson River to educate and inspire children to protect the environment.
    American folk singer and activist Pete Seeger's passion for music and the environment embodied who he was every single day of his life. In 1966, Seeger co-founded the organization Hudson River Sloop Clearwater. Ever since, Seeger's 106-foot-long sloop, Clearwater, has been sailing up and down the Hudson River to educate and inspire children to protect the environment.
  • Prison officers block news crew from tourist site

    Prison officers block news crew from tourist site

    Friday, July 25 2014 5:25 PM EDT2014-07-25 21:25:19 GMT
    An upstate New York TV crew was threatened with arrest by corrections officers as they filmed at a public historic site on the grounds of an empty, soon-to-be-closed state prison.
    An upstate New York TV crew was threatened with arrest by corrections officers as they filmed at a public historic site on the grounds of an empty, soon-to-be-closed state prison.
  • New York suggests summer shutdown for Indian Point

    New York suggests summer shutdown for Indian Point

    Friday, July 25 2014 3:08 PM EDT2014-07-25 19:08:24 GMT
    A state agency is suggesting summer shutdowns at the Indian Point nuclear power plant in the New York suburbs. The idea is to protect migrating and spawning fish who might otherwise get sucked into the plant. Indian Point takes 2.5 billion gallons a day from the Hudson River to make steam and cool its two reactors.
    A state agency is suggesting summer shutdowns at the Indian Point nuclear power plant in the New York suburbs. The idea is to protect migrating and spawning fish who might otherwise get sucked into the plant. Indian Point takes 2.5 billion gallons a day from the Hudson River to make steam and cool its two reactors.
Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices