Forget about Black Friday, it's time for Manic Monday - the busiest online shopping day of the year, in which £537 million is expected to be spent online.

Visa Europe has stated that more money is forked out on e-retail stores on the Monday closest to the start of the December, and Kelkoo has said that shoppers could be parting with a whopping £22.4 million per hour.

The busiest period is expected to be the office lunch hour of 1pm-2pm, and it's also likely that there will be a spike at around 7pm when people get home from work. So, if you've got some old toot you need to get rid of on eBay, it might be worth paying the extra few pence to schedule the auction times to end during these hours.

Visa Europe's commercial director Steve Perry said: "Shopping online is now a natural part of the gift-buying process for consumers and a key part of Christmas sales strategy for retailers. The combination of monthly salaries being paid and people taking delivery times into consideration should combine to deliver a record day for internet shopping".

The prediction differs slightly from what Play.com is saying. It has said that next Monday, 6 December, will be the busiest day and has dubbed it Mega Monday.

Whatever ends up being the busiest day, whether it be Manic Monday, Mega Monday, Tornado Tuesday, Wonga Wednesday (you get the picture), online shopping is going to be massive this year - with a Visa study showing that 74 per cent of consumers are planning to buy presents online this Christmas, with 30 per cent looking to do more online shopping than they did last year.

Are you doing your Christmas shopping online, or will you be traipsing up and down the high street? Let us know using the comments below.