News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Report: Cyber Monday Becoming Cyber Week – Dec. 6, 2012

Report: Cyber Monday Becoming Cyber Week 

Dec. 6, 2012

Holiday sales numbers continue to pour in trying to estimate the impact of the Black Friday-to-Cyber Monday weekend. And, if it seems like the formerly well-defined shopping kickoff days are expanding in length, it’s not your imagination, according to e-commerce processor Chase Paymentech’s Chase Holiday Pulse. For the entire week from Black Friday through Nov. 30, year-over-year sales increased by 22.5 percent, the Pulse said. For the same period, the number of transactions increased by nearly 33 percent while average ticket price dropped 7.7 percent. E-commerce spending tapered off throughout the week and actually hit negative year-over-year growth rates over the weekend, but Chase Paymentech expects online sales to ramp back up in the weeks before Christmas.

Other sources also have confirmed the big gains recently reported for Cyber Monday. Antifraud solutions provider ReD said its processing volumes were up 31 percent over the entire Thanksgiving through Cyber Monday period, with volumes growing 40 percent on Cyber Monday compared to last year. And, The Members Group, a Des Moines, Iowa-based company that provides payment card processing for credit unions said the number of card-not-present transactions started strong on the Wednesday before Thanksgiving, dipped slightly on Black Friday and more than doubled on Cyber Monday.

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Daniel Leibovitch