IngenicoePayments, the online and mobile division of Ingenico Group, today reported that it processed 29% more payments during this year’s Black Friday weekend compared to the same weekend in 2015. Over the course of the weekend, starting on Thanksgiving Day (24th November) in the US and finishing on Cyber Monday (28th November), IngenicoePayments twice broke its record for most payments processed in a single day.
The increase in payments was primarily driven by strong growth in Europe, where the UK, France, Germany, Spain and Italy all showed strong momentum. By comparison, the United States saw only minor growth year-on-year. Although still small in absolute terms, IngenicoePayments also saw a marked increase in the number of transactions from Latin America and Asia.
Compared to previous years, online shopping is increasingly spread over the entire weekend. For many markets, including the UK, Germany, Canada, Spain and Italy, the two days between Black Friday and Cyber Monday also register among the busiest online shopping days of the year to date. In the United States, online shopping is still most popular on Cyber Monday, with Black Friday sales historically more brick and mortar focused.
Remarkably, for a shopping day that is associated with steep discounts, Average Transaction Values are actually up compared to other Fridays this year. This is particularly visible in Germany, where ATV is up as much as 30%, and the US, with an increase of 21%. The UK, on the other hand, saw a much more modest 2.5% increase in ATV, but on much larger volumes compared to regular Fridays.
“From our data analysis, we had anticipated a record-breaking weekend, and it sure didn’t disappoint. While Thursday and Friday stood out, it was interesting to see the spending patterns hold up across the entire weekend and into Cyber Monday. Black Friday and Cyber Monday are morphing into one, massive online shopping weekend,” said Pierre-Antoine Vacheron, Executive Vice President, IngenicoePayments. “People from more countries are spending more money per purchase across more days – it’s clear that online commerce is driving retail forward this holiday season. We are very proud to have provided the platform that our merchants count on during peak sales, and look forward to breaking our new records soon.”