Chase Paymentech: Black Friday and Cyber Monday Online Sales up 24%
Dec. 5, 2011
E-commerce payments processor Chase Paymentech said online sales over the first big weekend of the holiday shopping season were up 24 percent over the same period a year ago. The company’s Cyber Holiday Pulse Index found that during the weekend, including Black Friday and Cyber Monday, transactions for the top 50 Internet retailers rose 36 percent compared to 2010. “Cyber Monday has historically been the biggest single day of the season, and so far that’s true again,” Mike Duffy, president of Chase Paymentech said. “In addition, ecommerce is now an established part of the Black Friday phenomenon, as consumers take advantage of online shopping deals as well as Black Friday in-store bargains.” Other data reported by the Index for the holiday season to date, which began the first week of November, 2011, include: Transactions are up 40 percent, and sales are up 26 percent year over year. The average ticket values remain down, falling around 9 percent from last year. The Dallas-based processor said this may be a symptom of increasing sales of digital goods and of discounting early in the season. In previous years, data for the weeks following the Cyber weekend showed sustained volume, demonstrating the growing strength of the online channel.