PayPal mobile shopping volumes scale new heights
05 December 2012 | 8759 views | 0
PayPal experienced its biggest ever mobile shopping day on Sunday, exceeding the previous record set on Cyber Monday a week earlier.
Cyber Monday - the first day back at work after the US Thanksgiving break - is traditionally the busiest online shopping day for e-commerce merchants. But as more consumers access the Web through their mobile phones and devices, the trend lines appear to be shifting.
PayPal saw a 190% increase in global mobile payment volume on Cyber Monday 2012 compared to the same day in 2011. The company has yet to release the precise figures spent, but the record sales recorded on Monday were exceeded by more than $1 million the following Sunday.
Anuj Nayer, senior communications director at PayPal says: "Thanks to smart phones, tablets, and other mobile devices, modern holiday shopping has evolved into a buy anytime, anywhere experience. We expect that trend to continue throughout the holiday season."
All eyes now move to the UK, where record digital sales were confidently predicted for Mega Monday - the first Monday in December and traditionally the busiest day of the year for online shopping in Britain.
With a weakened economy and depressed household budgets compared to the same period last year, e-commerce merchants are banking on more consumers turning to the Web in search of better deals than those available from brick and mortar retailers.
Visa last month forecast that £320 million would be spent online on its cards alone on Monday, while UK retail association IMRG anticipated a £920 million spend by consumers using mobile devices in the first two weeks of December.