Ingenico Group, the global leader in seamless payment, today reported that online spending by European consumers on Black Friday increased by 509% over the average Friday in 2017.
When compared to US consumer spending data, this increase was more than three times higher than the growth of US online spending during the same time period. The surge in European spending indicates that the success of Black Friday has spread overseas, representing an opportunity for US-based online retailers to identify and attract new customers during the holiday shopping season.
According to analysis of US transactions processed by Ingenico from November 24-27, online spending was relatively comparable throughout the long weekend, with the total sales on Cyber Monday only exceeding Black Friday by a small margin. Ingenico also reported that the number of transactions on Black Friday and Cyber Monday rose 105% and 143%, respectively, compared to the average of all the transactions recorded on each corresponding weekday in 2017.
Although the difference was not as dramatic as previous years, Ingenico found that Cyber Monday claimed a larger number of online transactions than Black Friday, and as a result consumers spent more on that day.
Even though the increases in consumer spending across Black Friday and Cyber Monday were not as dramatic in the US as previous years, the record amount of growth across Europe in 2017 is encouraging for global merchants,” said Joe Leija, General Manager ePayments, North America, at Ingenico Group. “It is important to look closely at this information because it offers a direct line of sight into global consumer shopping behaviors and preferences. As online commerce continues to drive retail forward, Ingenico is proud to offer solutions that enable merchants to meet the demands of the holiday shopping season anytime, anywhere.”
These statistics are based on Ingenico’s online retail data for 2017 collected from January to November. This data does not capture total country spending for each individual consumer, but it is extrapolated from payments processed by Ingenico in the aforementioned geographies. To learn how your business can prepare for next year’s holiday season and receive more information about Ingenico’s offerings, please visit: https://ingenico.us