Worldpay, the global leader in payments, has predicted that online retailers are set for another bumper Black Friday and Cyber Monday this year. According to new data by the payments processor, last year’s sales saw a 10% rise in the number of transactions processed compared to 2014, with sales expected to continue to grow this year.
An analysis of last year’s data found that actual transaction value also rose by 14%, suggesting that not only were more people getting involved in the action, but they were also spending more too. The date continues to be one of the busiest days of the shopping year, with retailers experiencing a 55% rise in transactions compared to that of an average day.
And it’s not just retailers that are turning their attention to Black Friday; other sectors are getting involved too. The travel industry saw a 21% rise in transactions from the same date in 2014, as agencies begin to take advantage of consumers on the hunt for a bargain and jump on the Black Friday bandwagon.
Maria Prados, VP global retail, global e-com at Worldpay said: “Black Friday and Cyber Monday have continued to gain traction over the past few years. While last year’s sales saw a number of retailers drop out of Black Friday deals such as Asda and Ikea, the data, suggests that shoppers still have an appetite for the sales. And as more consumers want to take advantage of the seasonal sale, retailers and travel agents alike need to prepare themselves.”
“By offering up variety of payment options to consumers, websites can appeal to local shoppers by offering the payment method that they want. And with an ever increasing number of alternative payment methods becoming dominant in the UK, such as digital wallets and bank transfer, providing customers with the quickest and easiest payment option is a sure-fire way to convert baskets into checkouts and then into sales”
Globally however, Black Friday and Cyber Monday’s growth has begun to flatten, with retail transactions up only 2% in 2015 compared to 2014. Nonetheless, with a 52% rise in transactions worldwide compared to that of an average day, this is still an opportunity for retailers and consumers across the world to cash in on some fantastic deals.
Travel transactions have risen by an impressive 120% globally, compared to the same dates in 2014, as more agencies are looking to provide Black Friday and Cyber Monday deals. In spite of this, transactions were only up 26% compared to an average day; suggesting Black Friday and Cyber Monday are still yet to establish themselves as the biggest dates in the travel calendar.