Payments This Season: Black Friday Observations & Cyber Predictions
11-28-2016
ETA member company PayPal released its early findings from Black Friday, and they say more people were shopping via mobile than ever before. Of the payments PayPal processed on the shopping season’s traditional kick-off, 33% percent were completed using mobile devices. Another interesting find from PayPal is that they saw nearly $22,350 more sales volume on Thanksgiving Day than on Black Friday itself.
The declining importance of Black Friday, and the increase in mobile and on-line shopping was also noted in ETA member company Visa’s 2016 Holiday Shopping Forecast. In fact, nearly half of all consumers Visa surveyed said they plan to do more than half of their holiday shopping on-line this year. Visa predicts that 15% of 2016’s total holiday shopping will be done using mobile devices.
The convenience of electronic payments is clearly making a big impact on holiday sales. Check back with Transaction Trends this week for the release of in-depth analysis of this season’s payments trends compiled by ETA and The Strawhecker Group.
About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.
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