Analysts: Online spending could reach $9.4 billion

Posted: Updated:

It's Cyber Monday today, and it could be the biggest online shopping day in U.S. history.

Analysts say online spending could reach $9.4 billion. They say $2 billion of that alone could come from people shopping on their cell phones.

Small Business Saturday sales hit a record high this year. U.S. shoppers spent about $19.6 billion at independent retailers and restaurants. That's according to American Express and the National Federation of Independent Business. The day was created 10 years ago by American Express to help small business owners get more customers.

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