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BizReport : Advertising archives : December 04, 2017

Positive signs through first full holiday shopping week

While most of the headlines surrounding the first official week of the holiday shopping season have been about revenue lines, there is another positive factor surrounding the week: credit card fraud is down.

by Kristina Knight

Marketers have a lot to be happy about so far this holiday season: overall sales are up, and credit card fraud is down. According to new data out from iovation, digital retail credit card fraud was down about 29% over Black Friday and Cyber Monday. Their data also shows more marketers and retailers are extending their deals throughout the holiday season, having caught on to the trend of more shoppers doing more shopping online than in-store.

"We can infer a number of trends through the analysis of billions of e-commerce transactions processed through our FraudForce platform. Most notable among these is that online retailers who leverage device intelligence are making significant inroads when it comes to proactively preventing card-not-present fraud. This type of fraud not only cuts into their bottom line results, it can cause irreparable harm to their brand so this is a meaningful improvement," said Greg Pierson, CEO and co-founder for iovation.

One drawback that is troubling is that of shopping cart abandonment. According to data from Barilliance, nearly three-quarters of online shopping carts were abandoned during the Thanksgiving weekend.

As to actual shopping numbers through the Thanksgiving weekend, Black Friday sales surpassed $5 billion. And, for Cyber Monday - a day historically 'won' by desktop visiting during working hours, customers spent about $6.59 billion digitally, with $2 billion of that going to mobile devices. Both Black Friday and Cyber Monday showed 16% YoY sales increases.

"The past Cyber Monday behavior of shopping on your work computer during the day is almost completely reversed. This year, mobile shopping was dominant both in the morning and afternoon, and desktop only staged a comeback in the evening when people were home. Smartphones have become the de facto device for mobile shopping, while tablets continue to be more used as entertainment and gaming devices. Consumers take smartphones everywhere including work and have a broad range of screen size options that make mobile shopping convenient and easy. With home virtual assistants and entertainment streaming devices selling fast this holiday season, it looks like home will continue to be at the center of peoples' digital lives," said Taylor Schreiner, Director of Adobe Digital Insights.

Tags: 2017 holiday shopping, Adobe Digital Insights, Barilliance, ecommerce, ecommerce trends, iovation, m:commerce trends, mobile commerce

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