Digital payment software platform ACI Worldwide expects a 23% global spike from 2020 in eCommerce between Thanksgiving and Cyber Monday, according to a press release, and a 14% jump in eCommerce from October through December.
Tickets are expected to be the hottest items on shoppers’ lists this holiday season, up 414% from a year ago, followed by travel (up 113%), telco (11%) and gaming (7%) making the biggest moves from 2020 to 2021, the release stated.
Global eCommerce was up 6% in September from the same month in 2020, according to the release. Singles Day Nov. 11 saw a 12% jump in transactions and a 7% boost in average ticket price compared to 2020 — as well as a doubling in fraud attempts.
“The holiday shopping season started in September this year with consumers looking for gifts and bargains early,” said ACI Worldwide Head of Merchant Payments Debbie Guerra in the release. “Merchants offered deals and discounts much earlier than in previous years to promote early shopping, giving them greater flexibility to accommodate any supply chain challenges. Retailers continue to grapple with shortages in labor and delivery delays due to the ongoing pandemic.”
ACI is also projecting a 98% jump in buy online, pickup in store (BOPIS) delivery this holiday season, and it said in the release buy now, pay later (BNPL) grew 450% in the first half of 2021.
“The surge in online purchases of higher value items, such as home electronics has, in part, driven the substantial increase in popularity of BNPL,” said Guerra in the release. “Merchants offering this payment method have a real opportunity to attract new customers and improve the experience of existing ones. This holiday season could be a game-changer for merchants offering BNPL options for consumers.”
Alibaba and JD.com combined for an estimated $139 billion in Singles Day sales, but overall growth for merchants was in the single digits this year, down from the typical double-digit uptick. The drop is attributed to China’s continuing crackdown on Big Tech and associated tightening of regulations, supply chain snags reducing inventory, and consumers’ concerns about economic instability.
Read more: JD.com, Alibaba Sales Not Enough to Boost China’s Sluggish Singles Day
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