Reuters reported that Cyber Monday sales were up 20% versus the same time last year, according to data from IBM. Last year's sales topped $1 billion, and ComScore expects that number to hit a record high of $1.2 billion.

PayPal saw a 514% increase in mobile payment volume on Cyber Monday as of 11am PT. It also noted six percent more in mobile payment volume on Cyber Monday as compared to the same time period on Black Friday.

Unlike Thanksgiving and Black Friday, all Cyber Monday purchases occur online, with online retailers offering deep discounts.

IBM notes that most shopping will come from laptops and PCs during the day. It says that mobile shopping will pick up later. This suggests that employees who were back at work after the long weekend shopped from their work computers during the day, and continued into the evening with their mobile devices.

Did you find big deals on Black Friday? Tell us about your experience in the comments below.

Image via AppAdvice.com.