Monday is set to be the biggest-spending day of the year with UK consumers shelling out £350m.

According to retail association IMRG, UK shoppers will spend an expected £5bn this month – a year-on-year increase of 14 per cent.

According to research carried out recently for the IMRG e-Customer Service Index by eDigitalResearch, three-quarters of consumers are planning to do half or more of their Christmas shopping online.

Online entertainment retailer Play.com said it expects its top sellers to be the Call of Duty – Modern Warfare 2 game, Take That – The Circus Live DVD and the teen vampire Twilight series.

A report by researchers ComScore said the previous record for the heaviest day of online spending in the US has already been smashed this year.

Until last week, 9 December 2008 was the biggest day for online shopping with US consumers spending $834m. The record is now held by 30 November this year, when they spent a total of $887m.