eCommerce transactions set to grow by 23% by Cyber Monday

eCommerce transactions globally will increase by 23% between Thanksgiving and Cyber Monday, says ACI Worldwide

eCommerce will boom globally between Thanksgiving, on Thursday 25th, and Cyber Monday, on November 29th, a new report from ACI Worldwide, predicts.

The surge is not an isolated event, as September 2021 saw a 6% increase in global sales compared to September 2020, in a trend that suggests retailers are experiencing an uptick in sales as shoppers prepare for the festive season earlier than usual. 

Singles Day statistics on November 11th - a critical date for global retailers in their drive to attract new customers with incentives, discounts, and new products, has also indicated that there will be a robust Christmas spending season ahead. Compared to 2020, this year saw a 12% uptake, despite a 7% rise in ticket prices and a 50% increase in fraud attempts. 

Fraud attempts are also expected to continue to rise as more consumers increase their spending on travel and ticketing. Certain sectors will be affected more than others. For example, the travel industry could see fraud increase by 2.7%, while the ticketing sector could see a 0.7 percent increase this holiday season. 

eCommerce Christmas boom will be global

Speaking about the latest figures, Debbie Guerra, head of merchant payments, ACI Worldwide, explained, “The holiday shopping season started in September this year with consumers looking for gifts and bargains early. 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.”

According to ACI eCommerce data, new payment methods and channels are continuing to increase in popularity with customers. Indeed, the company predicts that there will be a 98% increase in online shopping transactions via retail stores and in-store (BOPIS) delivery channels compared to the 2020 holiday season.

BNPL boom aids seasonal spending

Access to interest-free payments via BNPL services has escalated rapidly throughout 2021, with users growing four-fold (a growth of 450%) in the same period in 2020.  Data shows that BNPL also has the highest acceptance rates (98% on average compared to 96% on credit/debit cards), suggesting a continued upward trend.

Guerra said, “The surge in online purchases of higher value items, such as home electronics has, in part, driven the substantial increase in popularity of BNPL.”

“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.”

Key trends at a glance:

eCommerce predictions for the 2021 holiday season compared to 2020 - supplied by ACI Worldwide:

  • Overall growth in transactions from Thanksgiving to Cyber Monday +23 %
  • Thanksgiving Day +20%
  • Black Friday +22%
  • Saturday after Black Friday +26%
  • Sunday prior to Cyber Monday +27%
  • Cyber Monday +21%
  • Green Monday +15%
  • Christmas Eve +14%
  • Christmas Day +15%
  • Boxing Day +12%
  • New Year’s Eve +10%

eCommerce purchase predictions by industry:

Volume of transactions

  • Travel + 113%
  • Ticketing +414%
  • Retail +0.5%
  • Gaming +7 %
  • Telco + 11%

Average ticket value

  • Travel +19%
  • Ticketing +85%
  • Retail +4%
  • Gaming +27%
  • Telco + 5%

Average ticket price for fraud attempts

  • Travel +2%
  • Ticketing +32%
  • Retail +15%
  • Gaming +13%
  • Telco +28%

Fraud attempts

  • Travel +2.7%
  • Ticketing +0.7%
  • Retail + 1%
  • Gaming +0.5%
  • Telco +0.7%

Fraud attempted transaction value

  • Travel +1.3%
  • Ticketing: +0.3%
  • Retail +0.1%
  • Gaming -0.3%
  • Telco +1%

eCommerce purchases by payment types

Volume of transactions

  • Mobile payments: predicted to increase by 18%
  • eWallets: predicted to increase by 87%

Average ticket value

  • Mobile payments: predicted to increase by 17%
  • eWallets: predicted to increase by 12%

Fraud attempts

  • Mobile payments: predicted to increase by 0.3%
  • eWallets: predicted to increase by 0.7%

Fraud attempted transaction value rate

  • Mobile payments: predicted to increase by 0.3%
  • eWallets: predicted to increase by 0.3%

Featured Articles

Fireblocks buys tokenisation firm Blockfold amid high demand

Fireblocks is acquiring tokenisation firm Blockfold amid rising demand from tier-1 financial institutions to tokenise assets like deposits and stablecoins

Papara will focus on M&A amid expansion, neobank's boss says

Turkish neobank Papara will continue to focus on M&A as part of its European expansion strategy, Chairman Ahmed Karslı is set to tell FinTech Magazine

Wise and Swift join forces on faster cross-border payments

Wise and Swift are joining forces to empower banks and FIs to deliver more cross-border payment optionality as part of a broader long-term partnership

Marqeta: over half of people want Gen AI help with finances

Financial Services (FinServ)

Fintech super-app Rauva to acquire Portuguese bank for €30m


UK's Zopa Bank gets £75m of fresh funding from investors