Cyber Monday: Record-Setting Shopping Expected [Video]

Cyber Monday is expected to deliver record-setting shopping as the holiday shopping season hits full stride.

The Monday following Thanksgiving, Cyber Monday—a term coined in 2005 by the National Retail Federation—has become the biggest online shopping day of the year as shoppers across the United States continue to hunt for deals in the annual spending spree that has become a post-Thanksgiving tradition.

According to Adobe Analytics, which tracks online shopping, consumers are projected to spend a record $13.2 billion online this Cyber Monday, a 6.1 percent increase over last year’s total. The analytics firm predicts a peak in spending between 8 p.m. and 10 p.m. ET, during which consumers could spend an eye-popping $15.7 million per minute.

Retail Giants Extend Cyber Monday’s Reach

Retail heavyweights like Amazon, Walmart and Targethave extended Cyber Monday deals into multi-day events that began over the Thanksgiving weekend. Amazon launched its promotions early Saturday, while Walmart and Target kicked off their online discounts …