This year's Cyber Monday. shopping holiday was a major success for online retailers in the U.S. and now web-based merchants in the UK are reporting similar returns for their cyber spending event, known as Mega Monday.

According to Bloomberg, Britons spent approximate $786 million over the weekend leading up to the holiday, which took place on Monday, December 6. Economists forecast that cold weather in the UK will likely lead to higher online sales than expected, as shoppers will opt to stay home rather than brave the low temperatures.

"We will continue to see new records in the volumes of transactions in the run-up to Christmas as consumers put more trust in the online operation of brands," said Eric Abensur, chief executive officer at Venda.

Cyber Monday. 2010 was the highest-ever single-day dollar volume for online shopping. in the U.S., and for the first time in its 5-year history, the shopping event saw a total spending that surpassed $1 billion.

Those who still have more holiday gifts to buy may want to continue looking for deals online, as the news provider suggests that many internet merchants will continue to offer deals throughout the end of December.