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BizReport : Mobile Marketing : October 27, 2016

Mobile to play increasing role in holiday season shopping

Businesses that have invested in mobile technology should reap the rewards during the upcoming holiday shopping season, according to a new report from PayPal.

by Helen Leggatt

PayPal's predictions about transactions for the 2016 holiday season highlight the impact of mobile shopping platforms, peer-to-peer payments platforms and mobile banking.

If you think holiday shopping is stressful, you're not alone. PayPal's research found that 6 in 10 Americans find holiday shopping stressful, so much so that they'd rather shovel snow, go to the dentist or even text with their boss during the weekend.

However, mobile is being viewed as the panacea for holiday shopping stress. Having already seen a 56% YoY increase in mobile payment transactions during Q1 2016, PayPal is confident that this holiday season will see mobile drive more sales than ever. Furthermore, they predict that the largest holiday transaction conducted via mobile will total more than $64,000 - not exactly a mere stocking filler.

According to PayPal, the upcoming Cyber Monday retail-fest will mark the summit of the shopping season. PayPal expects more than $25,000 in Total Payment Volume (TPV) per second at peak of Cyber Monday - with a whopping 40% of Millennials planning to shop on a mobile device that day.

As well as being a convenient and portable payment method, mobile is also changing the way in which consumers shop. Or, more specifically, where they shop. Fifty-nine percent said they will shop while binge-watching television, 22% while they are on the toilet, and 34% will shop for their partner while they are in bed asleep next to them.

Tags: Cyber Monday, holiday 2016 shopping trends, mobile, research

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