Americans are projected to spend $1.5 billion today on retailers' websites for Cyber Monday.
The term was coined by Shop.org in 2005 and refers to a day when retailers offer their best online promotions.
But it's clearly time for Cyber Monday to get a new name, according to Brian Sozzi, chief equities analyst at NBG Productions.
The word "cyber" is outdated now because it references computer networks. It was widely used a decade ago but not today because modern shoppers aren't just sitting at home on their desktop computers and ordering products online.
In fact, according to Shop.org, the number of shoppers planning to use their smartphones or iPads was 20.4 million, a big increase from last year. Three years ago, only 3.6 million people used smartphones or tablets to shop on Cyber Monday.
Retailers are also pouring money into innovating apps and mobile websites to Accomodate the next generation of shoppers. On Thanksgiving, mobile payment activity soared by 173 percent, according to eBay.
"I think today should actually be called "Mobile Monday," Sozzi said.
We contacted Shop.org a few days ago, but they haven't responded to whether they've considered a name change.
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