Cyber Monday Sales Shatter Records

Cyber Monday sales have shattered records this year as shoppers seek out deals online.

Total sales were up 8.7% over 2013, according to the IBM Digital Analytics Benchmark.

Mobile sales increased by a whopping 29.3% and accounted for one in five transactions, according to IBM.

Strong Cyber Monday results could help offset plummeting sales on Black Friday.

While more shoppers turned out for Cyber Monday, the average transaction price remained flat at $133.07.

"This trend may indicate that shoppers are becoming more comfortable and digitally savvy in how they use online coupons and rebates to secure the best bargains," according to IBM.

The name "Cyber Monday" started in 2005 by the National Retail Federation's online arm, Shop.org, to spur online shopping, the Associated Press writes. It's been the busiest online shopping day since 2010.

Total Thanksgiving weekend spending declined 11% to $50.9 billion this year, according to the National Retail Federation (NRF).

Stores saw about 6 million fewer shoppers than expected.

The National Retail Federation blamed the decline on earlier promotions from retailers like Wal-Mart.