Ingenico: Black Friday online retail spend almost double Cyber Monday

Ingenico: Black Friday online retail spend almost double Cyber Monday
05.12.2017 10:52 am

Ingenico: Black Friday online retail spend almost double Cyber Monday

Payments

Black Friday has now extended to a six-day eCommerce festival, with Wednesday 22nd – Monday 27th November recorded as the six busiest shopping days of 2017, according to analysis by Ingenico, the global leader in seamless payment.

Sales peaked on Black Friday, where UK consumers spent a huge 515% more online than the average Friday in 2017 and nearly double that of Cyber Monday. In 2016, Cyber Monday transaction value was just 27% lower than Black Friday.

“With retailers competing to launch their discount campaigns first, and consumers rushing to snap up the best deals, ‘Black Friday’ has now extended into a full week-long event,” said Gabriel de Montessus, VP Retail Global Product and Marketing for Ingenico Group. “Cyber Monday was still one of the biggest eCommerce days of the year, but sales fatigue appears to have hit consumers who, this year, expended more energy and budget on earlier discount offers.”

November is now the biggest eCommerce month of the year. Spending nearly doubled from October to November and in 2016, it out ranked December purchases online. eCommerce shoppers now save up for a November splurge, taking advantage of the discounts and ordering in time for the deliveries to arrive before Christmas.   

The UK’s Black Friday boom was mirrored across the continent, with EU spending 509% above the average Friday. This was more than three times stronger than the US’ spending surge.  

“Black Friday fever gripped the continent once again this year,” said Gabriel de Montessus. “In 2018, retailers have a clear opportunity to expand their festive campaigns across Europe, providing they have the right payments infrastructure in place. Payment preferences vary hugely across the continent, and retailers should ensure they put customers at ease by localising to reflect languages and shopping cultures.

Related News

SmartStream introduces new industry digital payments solution

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced the launch of TLM Aurora, the next generation of Corona, the... Read more »

Alipay will be available in Seoul taxis via kakaopay beginning January 2019

Following the introduction of QR-code payment in more than 71,000 taxis in Seoul, all taxis in Seoul will accept Alipay beginning in January 2019.

Alipay, the world’s... Read more »

SWIFT rolls out gpi tracker for all as usage soars

SWIFT gpi has been rapidly adopted since its launch last year, and is now being used to send more than a million payments every day with a combined value of well over $100... Read more »

WINTER HOLIDAYMAKERS WARM UP TO PREPAID CARDS

Holidaymakers are warming up to prepaid cards for overseas spending as the switch from cash continues, new research from financial data analytics experts Consumer Intelligence... Read more »

New research: Payment fragmentation is the “new normal” across all markets

Research published today by RS2 examines the payment landscape across a number of global markets, and finds that... Read more »

Accuity 2018 payments report finds banks embracing automation to deliver accurate payments and a better customer experience

According to the Accuity “... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App