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Consumer Optimism Remains Strong Despite Economic Headwinds, Per 2022 Holiday Spending Report From ACI Worldwide
Annual ACI Holiday Spending Report reveals surge in use of mobile devices, digital wallets and buy now, pay later (BNPL) payment methods during 2022 holiday
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nAnnual ACI Holiday Spending Report reveals surge in use of mobile devices, digital wallets and buy now, pay later (BNPL) payment methods during 2022 holiday season, as shoppers sought out cheaper, more convenient alternatives\n\n\neCommerce transactions increased 21%, as fraud attempts decreased by 0.5% during holiday season Q4 2022 versus 2021\n\n\nBNPL transaction values increased by 87% during Black Friday versus 2021, as it became the go-to payment method for shoppers concerned with inflation\n\n\nMobile devices saw a surge in volume of transactions, with 36% of Black Friday eCommerce traffic via mobile devices\n\n\nMore consumers opted for delivery channels such as BOPIS or Click and Collect, helping shoppers save on delivery costs, as volume of transactions experienced a 25% increase Q4 2022 versus 2021\n\n\n MIAMI--(BUSINESS WIRE)--\nDespite a challenging economic environment, the 2022 holiday shopping season exceeded projections, according to eCommerce intelligence from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payments solutions, which analyzes millions of eCommerce transactions on an annual basis to assess year-over-year growth. From October through December 2022, eCommerce transactions saw a 21% increase, beating estimates by 6%.\n\nConsumers spent more on gaming and travel, as both sectors saw a significant uptick in transaction volumes during Cyber Weekend 2022. The gaming sector experienced a 153% increase in transaction value, and the travel sector experienced a 57% increase. Meanwhile, the retail sector experienced a 4% increase in volume over Cyber Weekend, driven by general retail, which saw a 14% increase, and sports and athletic sales, which experienced a 13% increase in transaction volume.\n\n“Consumers upped their spending this holiday season despite increasing economic pressures,” explained Basant Singh, head of merchant segment, ACI Worldwide. “While inflation accounted for much of the year-over-year rise in holiday spending, our data shows a steady uptick in transactions, with many consumers buying goods and services via mobile devices, and in many cases using digital wallets as a preferred payment method. We expect to see these trends continue in 2023.”\n\nMobile shopping surged on Black Friday\n\nConsumers used their smartphones to make key purchases as deals droppe...