Business
Global eCommerce Transactions Expected To Grow 15% During 2022 Holiday Season, Showing Optimism
10% increase in eCommerce transactions anticipated between Thanksgiving and Cyber Monday Growth in travel and ticketing sectors continues to be strong post
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\n\n10% increase in eCommerce transactions anticipated between Thanksgiving and Cyber Monday\n\n\nGrowth in travel and ticketing sectors continues to be strong post COVID restrictions\n\n\nInflation teamed with limited inventory slightly softening retail sales in 2022 compared to 2021\n\n\nFraudsters target high-value purchases such as electronics, travel and events as friendly fraud and account takeovers are expected to continue into the holiday season\n\n\n MIAMI--(BUSINESS WIRE)--\nA busy holiday shopping season* is projected, with eCommerce transactions expected to rise 15% from October through December 2022, according to data analysis from millions of eCommerce transactions conducted by ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payments software. The spending predictions reflect that consumer optimism is holding strong, despite inflationary pressures and limited inventory, and beat last year’s predictions for the same period (14%).\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221108005139/en/ACI Worldwide: eCommerce Predictions for Holiday Season 2022 vs. 2021\n“Consumers are quietly optimistic with their holiday season spending, but will be more price-conscious this year as inflation and economic uncertainty loom,” said Basant Singh, head of merchant, ACI Worldwide. “We’re seeing shoppers spend more on experiences rather than physical items as pent-up demand for travel, events and concerts remains strong post COVID.”\n\nACI’s eCommerce intelligence reports that the main sectors driving growth during the 2022 holiday season will be gaming (34%), travel and ticketing (29%), telco (18%), home improvement (13%) and fashion retail (7%).\n\nMobile payments slightly increase and preference for digital wallets grows\n\nMobile payments are projected to increase 5% during the 2022 holiday season, compared to the same period in 2021, while the average ticket value (ATV**) is expected to grow by 45% ($123), according to ACI eCommerce intelligence. Moreover, digital wallets are anticipated to be among the popular payment methods, with a projected 11% increase in transactions.\n\nThe ATV for buy now, pay later (BNPL) is anticipated to grow 10%. As inventory shortages persist, ACI forecasts a revival of the gift card industry with an expec...