BUSINESS

Retailers have high hopes for Cyber Monday

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Shoppers dropped more than $50 billion at stores over the weekend, a record-breaking start to the shopping season.

Now retailers are hoping the buying spirit carries over online today for Cyber Monday.

Cyber Monday sales topped $1 billion in 2010 and industry analysts estimated sales this year could reach a record $1.2 billion.

"If they do it's great news for the economy, but if they don't, well, this was a one-hit wonder," said Trish Regan, ABC financial reporter.

A record number of shoppers took advantage of sales over the Thanksgiving weekend.

Officials said more than 220 million people shopped online or in stores, kicking the holiday shopping season off to a great start.

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