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Cyber Monday expected to break record for largest online sales day in US history

Americans are expected to spend between $10.8 to $12.7 billion dollars on Monday.

GRAND RAPIDS, Michigan — Today is Cyber Monday, the biggest online shopping day of the year. 

Cyber Monday is expected to become the largest online shopping day in history, according to a preliminary data from industry analysts. 

According to ABC News, analysts predict consumers will spend anywhere from $10.8 billion to $12.7 billion on Monday, a 15% to 35% increase compared to last Cyber Monday, according to Adobe Analytics. 

Due to the coronavirus pandemic, this year's holiday shopping season is leading to high demand for online, delivery and curbside pickup options this year. 

Adobe Analytics found that Black Friday 2020 hit a new online sales record with consumers spending $9 billion. This is an increase of 21.6% in online sales compared to Black Friday last year, making it the second-largest online spending day in U.S. history after Cyber Monday 2019.

RELATED: Black Friday sees record online as US shoppers stay home, spend $9 billion

The analysts also highlighted other trends expected Monday, noting that between 7 p.m. to 11 p.m. will be the "golden hours of retail," when customers rush for last-minute buys before the deals expire. 

That four-hour window is expected to bring in a massive 29% of the day's revenue, or at least $3.1 billion. The analysts forecast $13 million will be spent per minute during the peak hour of 8 p.m. to 9 p.m. Monday. 

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