November 20, 2017
Monday 20th November 2017 – Atlanta – Worldpay, a global leader in payments, has predicted that Black Friday and Cyber Monday mania will be even bigger for online retailers this year. New data from the payments processor reveals that eCommerce spending jumped by 33% last year, compared to 2015. And with deals kicking off earlier than ever this year, Worldpay are predicting a bumper sales period for U.S. businesses.
Retailers were among the biggest winners, seeing sales increase by half (52%). Businesses across other sectors are starting to get in on the action as well. Last year, the travel and airline industry saw Black Friday spending increase by 28%2, as savvy travelers jumped online for great deals on hotels and flights ahead of Christmas and New Year.
Shoppers are also increasingly seeking out bargains for digital content such as subscriptions, e-books, and on-demand box sets, with a 14.5%3 increase in spending in this sector on Cyber Monday, compared to the year before.
Casey Bullock, General Manager, Global eCom – North America at Worldpay said based on the data, 2017 seems set to be another big year for the shopping event, both in the U.S. and globally:
“While Black Friday and Cyber Monday have typically been the realm of retailers, a more diverse range of businesses are now recognizing that they too can take can take advantage of this unique opportunity. Shoppers during this time are highly engaged, proactive, and looking for a wide range of deals, so the potential to reach new customers and strengthen brand loyalty is huge, no matter what sector you operate in.
“Businesses should ensure they set themselves up for success by making sure their websites are prepared for heavy traffic and offer simple payment options to drive shopping cart conversions online. They might also consider following the example of retail giant Amazon and kickstart Black Friday deals a week early in order to generate excitement early on.”
About the data
Figures quoted are according to Worldpay’s Global eCom transaction data for online businesses on Black Friday and Cyber Monday 2016 and 2015. Last year Worldpay processed a total of 14.9bn transactions at a value of £451.1bn.
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types.
For more information, visit http://www.worldpay.com/global
1Figure refers to YoY comparison of overall sales on Black Friday & Cyber Monday in 2016 vs 2015
2Figure refers to YoY comparison of travel & airline sales on Black Friday in 2016 vs 2015
3Figure refers to YoY comparison of digital sales on Cyber Monday in 2016 vs 2015