As many people are still racing to catch those Cyber Monday deals before they’re gone, PayPal has seen double digit growth in payment volume on mobile devices during the first eight hours of Cyber Monday, and the day isn’t over yet.
We looked at our data across the PayPal network—spanning more than 192 million active customer accounts — across Thanksgiving, Black Friday and during the first half of Cyber Monday to see how people are shopping this holiday season.
This follows a huge weekend of shopping where PayPal saw a couple of key trends:
Cyber Monday Growth Continues with a Mix of Desktop and Mobile
Laptops and TVs are once again on the top of holiday wish lists this year according to the
Consumer Technology Association. At PayPal, auto parts, fashion and electronics are expected to drive holiday sales. With more shoppers hunting for good deals on the most wanted items on their gift list, Cyber Monday is on track to become PayPal’s biggest shopping day of the year for the second year in a row.
As mentioned, we have seen double digit growth in mobile payment volume for Cyber Monday*. Our own
PayPal Holiday Money Habits Survey predicted that 64% of shoppers planned to make Cyber Monday purchases on their computers and 31% on mobile devices.
More Shoppers Going Mobile Not Just This Week, But The Entire Holiday Season
With Thanksgiving travel hitting a nine-year high
according to AAA, more shoppers turned to their mobile devices to shop on Thanksgiving, Black Friday and Cyber Monday. On both Thanksgiving and Black Friday*, purchases made on mobile devices accounted for a third of all total payment volume.
We’ve seen double digit growth in mobile payment volume for Thanksgiving, Black Friday and during the first eight hours of Cyber Monday*.
The data trends PayPal has seen this year highlight Thanksgiving, Black Friday and Cyber Monday as major shopping moments for shoppers globally. That said, these tent pole holiday moments are experiencing a flux in what has been traditional trends throughout the months of November and December. While these tent pole moments will continue to exist, the “graying” of Black Friday continues and Cyber Monday has turned to Cyber Month, as shoppers increasingly turn to mobile devices during each day of the shopping season.
Happy Holidays!
*All data based on PayPal core data only on a year-over-year basis