The internet trading body, IMRG has predicted a huge upsurge in Christmas shoppers going online to make their purchases today. As the busiest day for online shopping, the IMRG expects a record breaking £320 million to be spent online today.

The peak shopping hour is expected to be between 1-2pm as many people are expected to spend their cash during their lunch hour. In this hour alone £28 million is expected to be spent by UK shoppers. 1.31pm has been dubbed the ‘mega minute’ with £1 million expected to be spent in one minute alone.

The total online shopping spend is forecast to reach £13.6 billion, a 25% increase on last year’s figures as more and more people choose the internet as the source of their Christmas shop. Not only does the internet make it easier for people who are busy and do not wish to face the busy city centres for their Christmas shopping, but it is proving to be cheaper too, with many of the best bargains available to purchase online.

The director of operations at IMRG said: "The internet has become the best place for shoppers looking to make the most out of their squeezed spending resources and find the best prices and products for presents this Christmas. Online has definitely come of age this Christmas."

With many people resorting to putting this spend on credit cards, mounting debt for consumers is likely to take its toll in the new year.