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PERSPECTIVES ON DIGITAL CURRENCY

Nov 21, 2012

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‘Tis the Season for Ringing Checkout Registers

It’s the time of year when retailers hope that you’ve made Santa’s “Nice” list, so there are lots of presents under the tree and all stockings are stuffed! So far, early indications suggest that the season will be jolly, keeping Santa and his reindeers’ travel schedules fully booked.

The National Retail Federation predicts holiday shopping will increase 4.1 percent to $586 billion this year. Additionally, this week Adobe predicted online sales on Cyber Monday would top $2 billion this year, representing an 18 percent increase over 2011. Also of note: a prediction that mobile commerce would represent more than one-fifth (21 percent) of all online sales this holiday season.

While Black Friday and Cyber Monday are typically thought of as two of the busiest holiday shopping days of the year, a closer look at our United States-driven eCommerce data may suggest otherwise. We tasked some of our holiday number-crunching elves at Visa to look at debit and credit card purchases over the past 10 holiday seasons and found some interesting trends:

  • Weekend warriors: With a few notable exceptions (Black Friday, Cyber Monday), shopping volumes tend to climb significantly on Saturday and Sunday and drop off during the weekdays. [No matter which day you shop, if you are doing it online, V.me by Visa can help simplify the process.]
  • eCommerce excellence: According to Forrester, shoppers are expected to spend $226 million online this year alone.
  • Shopping strongholds: The Wednesday before Thanksgiving, Black Friday and Cyber Monday are BUSY shopping days—but not the busiest of the year.
  • Procrastination purchasing: Waiting until the last minute to buy gifts means a rush before Christmas. Over the last 10 years, December 22, 23 and 24th have been the busiest shopping days of the holiday season.

Whether past trends hold true this holiday season, or other days emerge as shopping surprises remains to be seen. One thing is for certain: checkout registers – whether online, mobile or in stores – will be busy ringing with the holiday sounds of spending.

Posted by: Lucas Mast, Visa Corporate Relations on November 21, 2012 at 1:06 pm