Australian retailers are gearing up for what is tipped to be one of the biggest days on the shopping calendar – Click Frenzy.

Kicking off on November 20 at 19:00 pm around the nation, more than 150 retailers will slash prices by between 15 and 90 per cent for 24 hours – giving savvy shoppers the chance to get their hands on thousands of discounted items.

The mega-sale event  is the Australian version of America’s Cyber Monday – a massive online shopping bonanza that takes place on the Monday after Black Friday – the day following Thanksgiving – in a bid to boost retail spending across the country.

The inaugural Click Frenzy – dubbed the sale that stops the nation – is expected to attract one million shoppers, organisers say.

“The whole aim is to stimulate activity in the online retail space for the benefit of all Australian retailers where they are online or multichannel,” Click Frenzy organiser Grant Arnott told the Sydney Morning Herald.

“We want to establish this as annual event before Cyber Monday really takes hold here and give Australian retailers a much needed boost ahead of Christmas.”

Australian shoppers are expected to part with more than $10 million for the big event, while the American version is now the largest day for online sales in the US, with US$1.25 billion spent during last year’s Cyber Monday.

Speaking to News Limited on November 13, Mr Arnott said the iconic shopping event would enable people to snap up bargains with just the click of a mouse.

“Shopping from the comfort of the couch is the game-changer of this century,” he explained.

“People armed with iPads or laptops or even their mobile phone will be able to capitalise on this.”

Recent figures show that online spending for this year is already 23 per cent higher than in 2011, and with more than six weeks of 2012 left, that margin is set to expand.