By 5 p.m. in New York on Thursday, $1.1 billion was spent online, according to Adobe Systems Inc. The full day was expected to total $1.7 billion, a 22 percent jump from the same period a year ago, the company said. Toy demand, especially for Star Wars products, helped drive the increase.

The online rush comes as Wal-Mart Stores Inc., Macy's Inc. and other chains roll out their Black Friday specials, aiming to get more shoppers into stores. About 135.8 million Americans are expected to shop in stores or online over the four-day weekend, according to the National Retail Federation, the largest U.S. retail trade organization. The amount they've spent has declined over the past two years, dropping 11 percent to $50.9 billion in 2014.

Though consumers are benefiting from lower fuel prices and unemployment rates, retailers have their challenges. Mall traffic is in the midst of a long-term slowdown, and shoppers are spending more on experiences and less on stuff. More recently, a warm autumn has curtailed sales of seasonal merchandise, leaving stores with excess inventory. All those factors point to a need for heavy discounting -- good for consumers, but not so great for retailers' profits.

"From the perspective of the amount of discounting that's going on, the over-inventory situation, it seems like there are going to be a lot of great deals in the next 45 days," said Bob Drbul, a retail analyst at Nomura Securities International.

Consumer Spending

The idea that consumers won't spend without some serious enticement got a boost on Wednesday, when Commerce Department figures showed household spending rose less than forecast in October. Purchases increased 0.1 percent for a second month, while the median forecast of 74 economists in a Bloomberg survey called for a 0.3 percent advance.