Consumer Optimism Remains Strong Despite Economic Headwinds, Per 2022 Holiday Spending Report From ACI Worldwide - Business Wire

MIAMI--(BUSINESS WIRE)--Despite a challenging economical environment, the 2022 vacation buying play exceeded projections, according to eCommerce quality from ACI Worldwide (NASDAQ: ACIW), a starring planetary supplier of real-time integer payments solutions, which analyzes millions of eCommerce transactions connected an yearly ground to measure year-over-year growth. From October done December 2022, eCommerce transactions saw a 21% increase, beating estimates by 6%.

Consumers spent much connected gaming and travel, arsenic some sectors saw a important uptick successful transaction volumes during Cyber Weekend 2022. The gaming assemblage experienced a 153% summation successful transaction value, and the question assemblage experienced a 57% increase. Meanwhile, the retail assemblage experienced a 4% summation successful measurement implicit Cyber Weekend, driven by wide retail, which saw a 14% increase, and sports and diversion sales, which experienced a 13% summation successful transaction volume.

“Consumers upped their spending this vacation play contempt expanding economical pressures,” explained Basant Singh, caput of merchant segment, ACI Worldwide. “While ostentation accounted for overmuch of the year-over-year emergence successful vacation spending, our information shows a dependable uptick successful transactions, with galore consumers buying goods and services via mobile devices, and successful galore cases utilizing integer wallets arsenic a preferred outgo method. We expect to spot these trends proceed successful 2023.”

Mobile buying surged connected Black Friday

Consumers utilized their smartphones to marque cardinal purchases arsenic deals dropped implicit Cyber Weekend. In total, mobile devices drove a 17% summation successful transaction measurement passim the people of the weekend. 36% of each transactions were processed via mobile devices during Black Friday. Cyber Monday played an arsenic important relation successful driving the uptick successful mobile usage, with transaction volumes implicit smartphone devices soaring by 43% successful examination to past year.

eCommerce buying is becoming much secure

Fraud attempts decreased by 0.5% during the Q4 vacation buying season. Mobile fraud attempts saw a diminution of 0.6%, and eWallets saw fraud attempts declining by 0.8%. Merchants are progressively investing successful amended fraud absorption and prevention capabilities, arsenic galore present look astatine fraud prevention arsenic a gross generator. As a effect of added information measures by eWallet providers (i.e., biometric authentication, encryption, etc.), this class saw the biggest diminution successful fraud attempts.

Venturing in-store to prevention costs

Data from ACI finds that shoppers actively sought retired Buy Online, Pick-Up In-Store (BOPIS) options arsenic a cheaper alternate to shipping and waiting for products to deliver. Transaction values for BOPIS accrued by 18%, with the mean summons worth (ATV) expanding by 26%, oregon $26.

Buy now, wage aboriginal options proceed to lure vacation shoppers

The go-to outgo method for Black Friday — BNPL — roseate by 87%, with the ATV expanding by 42%, oregon $57.

For high-value products, recognition and debit cards were the apical choice. Transactions for recognition and debit cards experienced an 8% increase, with the ATV climbing by 43%, oregon $49. eWallets saw a comparable summation successful transaction volumes, rising by 32%.

“Use of integer wallets during the past vacation play signals a broader inclination that we expect to play retired successful the twelvemonth ahead,” added Singh. “Consumers, particularly younger shoppers, are embracing integer wallets arsenic a mainstream outgo method. More than fractional of consumers (52.7%) utilized a integer wallet successful 2021, according to our data. This represents a 33% summation implicit the past 5 years.”

To conscionable this demand, ACI precocious launched its ACI Wallet Hub, an integrated web that gives merchants successful 70+ countries the quality to link to a azygous hub offering 200+ planetary and determination integer wallets. The wallet hub is portion of ACI’s payments orchestration platform for planetary eCommerce.

To larn much astir ACI Worldwide, delight visit: https://www.aciworldwide.com/.

About ACI Worldwide
ACI Worldwide is simply a planetary person successful mission-critical, real-time payments software. Our proven, unafraid and scalable bundle solutions alteration starring corporations, fintech companies and fiscal disruptors to process and negociate digital payments, powerfulness omni-commerce payments, contiguous and process bill payments, and negociate fraud and risk. We harvester our planetary footprint with a section beingness to thrust the real-time integer transformation of payments and commerce.

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