December 02, 2011 09:00 AM Eastern Time
Chase Paymentech Cyber Holiday Pulse Index Shows Record Online Shopping Volume over Black Friday and Cyber Monday
Black Friday and Cyber Weekend Results Show Ecommerce Sales Growth Exceeding 24 Percent Year over Year
DALLAS--()--Chase Paymentech, a leading merchant acquirer and payment processor, today announced season to date results from the Cyber Holiday Pulse Index, including Black Friday and Cyber Monday. The Pulse Index provides an inside look at consumer online shopping trends for these key shopping days and throughout the holiday shopping season.
“In addition, ecommerce is now an established part of the Black Friday phenomenon, as consumers take advantage of online shopping deals as well as Black Friday in-store bargains.”
For the holiday weekend including Black Friday, the Pulse Index, which tracks sales and transactions for 50 top e-retailers, indicated a 24 percent increase in sales and a dramatic 36 percent increase in transactions over the same period last year. On Tuesday, November 29, 2011 when many Cyber Monday purchases actually settled, the Pulse Index set a single-day record for both transactions and settled sales, with transactions up 37 percent year over year.
“Cyber Monday has historically been the biggest single day of the season, and so far that’s true again,” Mike Duffy, president of Chase Paymentech said, “In addition, ecommerce is now an established part of the Black Friday phenomenon, as consumers take advantage of online shopping deals as well as Black Friday in-store bargains.”
For the holiday season to date, which began the first week of November, 2011, transactions are up 40 percent, and sales are up 26 percent year over year. The average ticket values remain down, falling around 9 percent from last year. This may be a symptom of increasing sales of digital goods and of discounting early in the season.
With early season results exceeding industry expectations, Pulse will track if consumers continue to go online for their gift purchases. In previous years, data for the weeks following the Cyber weekend showed sustained volume, demonstrating the growing strength of the online channel.
The Pulse Index is updated with online shopping statistics every business day throughout the holiday period, from November 1, 2011 through January 6, 2012. Insights, analysis and commentary will be provided weekly online. For more information and to see the Pulse Index in action, go to http://pulse.chasepaymentech.com.
About Chase Paymentech:
Paymentech, LLC (“Chase Paymentech”), a subsidiary of JPMorgan Chase (JPMC), is a leading provider of payment processing and merchant acquiring. The company’s proprietary platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as digital, alternative and mobile payment options. Chase Paymentech has uniquely combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for companies large and small. In 2010, Chase Paymentech processed 20.5 billion transactions with a value of $469.3 billion, including an estimated half of all global Internet transactions. In addition to the ability to authorize transactions in more than 130 currencies, the company provides business analytics and information services, fraud detection and data security solutions. More information can be found atwww.chasepaymentech.com.
