Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Finance

BLACK FRIDAY OVERTAKES CYBER MONDAY AS ONE OF THE WORLDS’ BIGGEST ONLINE SHOPPING DAYS, ACCORDING TO WORLDPAY DATA

black friday

Worldpay saw a whopping 74% growth in eCommerce transaction volume over 2013 on Black Friday. Compare this to Cyber Monday growth of 44%. For the past three years Cyber Monday has outperformed Black Friday from an eCommerce perspective. For the first time, Worldpay saw more transactions processed on Black Friday – an additional 297k in total.

Earlier flash sales: Video Games emerge as winners

This year’s Black Friday eCommerce growth has been driven primarily by fashion, video games, digital content and electronics retailers that seem to be pushing promotions earlier than previous years. Some of the large video game platforms held flash sales which saw processing volumes go through the roof – Worldpay saw 124% uplift in transactions on Black Friday compared to the previous week. Despite this swift, Cyber Monday still attracted high numbers of shoppers; we saw 54% growth in volume from the previous week and greater push from pureplayers.

Major US shopping events go global

Despite shoppers from UK and US registering the largest number of transactions, our data shows that these events are gaining traction outside of the US. Shoppers from China were the most interested in Cyber Monday, with a massive 355% year on year growth on transactions from cards issued in China. And on Black Friday Worldpay saw the greatest year-on-year growth from shoppers in Russia and Spain (250% and 196%).

What are retailers pushing when?

The company has seen year-on-year lower average transaction values during Black Friday promotions. In comparison, focusing on the UK, on Cyber Monday the data showed a decrease in transaction volumes compared to the year before, but the average transaction value increased from £33 to £133 suggesting that retailers were using promotions to push higher ticket items.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post