Cyber Monday sales expected to exceed Black Friday's online record

U.S. retailers are offering big discounts on Cyber Monday, hoping to outpace record Black Friday online sales of $7.4 billion, CNBC reports. The Black Friday record marked the second biggest online shopping day ever seen in the U.S., second only to last year's Cyber Monday mark of $7.9 billion, according to Adobe Analytics data. Online sales have increased by 20 percent over the same period in last year's kick-off of the holiday shopping season. Shoppers also spent $4.2 billion online on Thanksgiving, another record. Adobe expected this year's Cyber Monday to set another record, with sales climbing 18.9 percent over last year to reach $9.4 billion.

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Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.