Business
Prime Days: Wider Retail Market Buoyed, Led by Mobile, Electrical and Electronic Sales – ACI Worldwide Data
25 percent increase in transaction volume and 20 percent increase in transaction value compared with 2021 Buy now, pay later (BNPL) average transaction value
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\n\n25 percent increase in transaction volume and 20 percent increase in transaction value compared with 2021\n\n\n\nBuy now, pay later (BNPL) average transaction value surged almost 50 percent (47% or $52) compared with 2021 – as consumers split higher value items into smaller installments\n\n\n\nMobile devices saw a 25 percent increase in transaction volume versus a 15 percent increase for non-mobile devices.\n\n\n\nFraud attempts remained flat, with only a 0.1 percent increase over last year despite the surge in transactions, while eWallet fraud declined 0.2 percent.\n\n\n MIAMI--(BUSINESS WIRE)--\nAmazon Prime Days 2022 helped buoy the wider retail market and drive double-digit sales growth, as merchants across the world used interest in its annual sales event to help boost their own sales, according to ACI Worldwide.\n\nACI Worldwide (NASDAQ: ACIW), is the global leader in mission-critical software, and its merchant business serves tens of thousands of businesses worldwide. The payments leader analysis showed that across its merchant customers overall transaction volumes increased by 25 percent with transaction values increasing by 20 percent compared with 2021, lifted by mobiles, electricals, and electronics, and despite a small lag in general retail products.\n\nThe rise in sales also held up remarkably well compared with the onset of the pandemic in 2020, with a 26 percent rise in transaction volumes and 10 percent increase in the value.\n\nACI’s market intelligence, derived from the transaction data from thousands of its merchant customers worldwide, attributed the sustained sales to the growing number of easier, more convenient and safer ways to pay, as well as cautious consumers emerging from COVID, hedging against growing inflation fears and economic uncertainty.\n\n\"It is clear that omni-channel sales are now an integral part of our lives, and two years of living with COVID have left consumers much more comfortable shopping using a variety of payment methods across a variety of channels,” said Basant Singh, head of merchant, ACI Worldwide. “Despite this wide range of choice, we are witnessing a much more cautious approach from consumers, highlighting growing uneasiness with pessimistic economic indicators and pressure on their wallets.\"\n\nMobiles, electricals and electronics lead\n\nAccording to ACI’s analysis, e...