Global eCommerce Transactions Jump in November Due to Earlier Start of Holiday Shopping Season, New Data from ACI Worldwide R...
December 04 2020 - 2:00AM
Business Wire
Global retail transactions increase 30 percent
from Thanksgiving to Cyber Monday 2020 vs. 2019
New benchmark data from ACI Worldwide (NASDAQ: ACIW), a leading
global provider of real-time digital payment software and
solutions, revealed a 21 percent increase in eCommerce transactions
globally in November 2020 compared to November 2019. This was
driven by strong consumer demand for household items and services,
especially those providing shipment, remote education and training,
and insurance for consumer electronics. According to the data,
based on hundreds of millions of eCommerce transactions from global
merchants, the retail sector saw a significant increase (30%) over
the five-day period from Thanksgiving through Cyber Monday in 2020
compared to 2019.
The Saturday after Black Friday experienced the biggest increase
at 47 percent compared to 2019. However, the average ticket price
on these peak days declined by 3 percent compared to 2019, down
from $136 to $132, as consumers are attracted to free shipment and
sales.
“This year’s holiday season is looking very different from
previous years with many merchants starting sales much earlier, as
well as continuing promotions beyond the traditional peak days of
Black Friday and Cyber Monday. The result is a substantial increase
in eCommerce transaction volumes prior to Black Friday,” said
Debbie Guerra, executive vice president, ACI Worldwide. “In
addition, many merchants expanded their buy-online-pick-up-in-store
and free next-day delivery options, which attracted many
consumers.”
Fraud attempt rates by volume increased slightly to 1.7 percent
by volume and 3.4 percent by value, similar to prior holiday
seasons, as a result of increased genuine consumer spending
outpacing fraud. Non-fraud chargebacks increased by 15 percent in
October* 2020 compared to 2019, a lower percentage than that of
April and May of 2020, mainly due to more people being back at work
and call centers being better staffed to deal with consumer
calls.
“Although fraud rates have increased only slightly, merchants
and consumers do need to be vigilant. Consumers should avoid
leaving packages on their doorsteps for long periods of time to
avoid porch piracy, as this has been an area of growing concern
over the years. As the buy-online-pick-up-in-store channel
continues to experience fast growth driven by the pandemic, it is
providing greater opportunity for fraudsters,” Guerra
concluded.
Key Findings:
eCommerce purchasing trends:
- In 2020 to-date (January to November), global eCommerce
transactions increased by 20 percent compared to the same period
last year.
- Travel and ticketing continued to see a significant dip in
November due to the pandemic, declining 60 and 85 percent
respectively.
- Transactions in the gaming sector increased 50 percent; this
increase was less than previous months, potentially due to market
saturation as well as consumers potentially awaiting holiday gift
cards for gaming purchases.
- The U.S. saw an increase in transactions of 20 percent and the
UK of 19 percent from January through November 2020 compared to the
same period in 2019.
- We continue to see eCommerce spending behaviors change because
of lockdown, driving UK purchases earlier this holiday season than
ever before
Fraud trends:
- Fraudulent attempt purchase value decreased by $11 in 2020
compared to 2019; this was the impact of airline, sporting event
and concert ticket purchase declines, which have a high average
ticket price; genuine purchases value decreased by
$18.
- Fraud attempt rates by volume increased slightly by 1.7 percent
and 3.4 percent by value, similar to prior holiday seasons, as a
result of increased genuine consumer spending outpacing fraud.
*As chargebacks take approximately 45 days to process, the most
current complete data is from October 2020.
About ACI Worldwide ACI Worldwide powers digital payments
for more than 6,000 organizations around the world. More than 1,000
of the largest financial institutions and intermediaries, as well
as thousands of global merchants, rely on ACI to execute $14
trillion each day in payments and securities. In addition, myriad
organizations utilize our bill presentment and payment services.
Through our comprehensive suite of software solutions delivered on
customers’ premises, through the public cloud or through ACI’s
private cloud, we provide real-time payment capabilities and enable
the industry’s most complete omni-channel payments experience.
© Copyright ACI Worldwide, Inc. 2020 ACI, ACI Worldwide, ACI
Payments, Inc., ACI Pay, Speedpay and all ACI product/solution
names are trademarks or registered trademarks of ACI Worldwide,
Inc., or one of its subsidiaries, in the United States, other
countries or both. Other parties’ trademarks referenced are the
property of their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20201203006108/en/
Dan Ring dan.ring@aciworldwide.com 781-370-3600 Nidhi Alberti
nidhi.alberti@aciworldwide.com 781-370-3600
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