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Online retailers reap rewards from Cyber Monday

November 30, 2011

Retailers saw positive results during Cyber Monday, with more customers taking part in merchant services through mobile phones than last year.

Retailers saw positive results during Cyber Monday, with more customers taking part in merchant services through mobile phones than last year.

Bloomberg reports that sales had made gains of 15 percent from last year as of 6 p.m. on Monday night, according to a report from International Business Machines. Another report found that mobile payments had increased by 514 percent by 2 p.m. that day, according to PayPal.

Andrew Lipsman, vice president of industry analysis at ComScore, said that many shoppers were feeling more confident about their financial standing and that was being reflected in the higher spending numbers.

“Consumers are definitely opening their wallets again,” Lipsman told the source. “Consumers have been saving and got their houses in order. They are feeling a bit better about spending than the past several years.”

Online merchants are able to benefit from the fact that consumers don’t have to pay taxes on products. However, many retailers that have brick-and-mortar stores are hoping a sales tax will be put on online items to level the playing field. 

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