Global eCommerce Transactions Expected To Grow 15% During 2022 Holiday Season, Showing Optimism

• 10% improve in eCommerce transactions anticipated between Thanksgiving and Cyber Monday
• Growth in journey and ticketing sectors continues to be robust publish COVID restrictions
• Inflation teamed with restricted stock barely softening retail gross sales in 2022 in comparison with 2021
• Fraudsters goal high-value purchases reminiscent of electronics, journey and occasions as pleasant fraud and account takeovers are anticipated to proceed into the vacation season

A busy vacation purchasing season* is projected, with eCommerce transactions anticipated to rise 15% from October via December 2022, in response to knowledge evaluation from hundreds of thousands of eCommerce transactions carried out by ACI Worldwide (NASDAQ: ACIW), a number one international supplier of real-time digital funds software program. The spending predictions mirror that shopper optimism is holding robust, regardless of inflationary pressures and restricted stock, and beat final yr’s predictions for a similar interval (14%).

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ACI Worldwide: eCommerce Predictions for Holiday Season 2022 vs. 2021

“Consumers are quietly optimistic with their holiday season spending, but will be more price-conscious this year as inflation and economic uncertainty loom,” mentioned Basant Singh, head of service provider, 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.”

ACI’s eCommerce intelligence stories that the primary sectors driving development in the course of the 2022 vacation season might be gaming (34%), journey and ticketing (29%), telco (18%), dwelling enchancment (13%) and vogue retail (7%).

Mobile funds barely improve and desire for digital wallets grows

Mobile funds are projected to extend 5% in the course of the 2022 vacation season, in comparison with the identical interval in 2021, whereas the typical ticket worth (ATV**) is anticipated to develop by 45% ($123), in response to ACI eCommerce intelligence. Moreover, digital wallets are anticipated to be among the many fashionable cost strategies, with a projected 11% improve in transactions.

The ATV for purchase now, pay later (BNPL) is anticipated to develop 10%. As stock shortages persist, ACI forecasts a revival of the present card business with an anticipated 2x improve in ATV. Furthermore, spending throughout the gaming sector is predicted to rise 34% in transaction quantity.

“Consumers are savvier on payment methods like BNPL as they look to delay spending by breaking up their purchases into smaller installments,” Singh continued. “In addition, consumers are showing a strong preference for digital wallets as a payment method as they shop more online and less in stores this holiday season. Merchants may want to consider improving the BNPL checkout experience for people with higher credit-approval rates. In addition, ensuring a smooth experience with digital wallet acceptance and strong fraud prevention in place will be beneficial.”

As retailers instill cargo cutoff dates for last-minute customers, the quantity of transactions is anticipated to extend 24% for cargo cutoff: precedence, 15% for cargo cutoff: floor and 10% for cargo cutoff: specific. However, purchase on-line, decide up in retailer (BOPIS) is forecasted to go up 9% in the course of the 2022 vacation season in comparison with 2021, as customers think about this different to paying for transport. “With inflation driving shipment costs up, we can expect to see shoppers turning to other delivery channels like BOPIS to curb their expenses,” Singh concluded.

Fraudsters concentrating on high-value objects

According to ACI knowledge, the quantity of pleasant fraud elevated 22% and the typical transaction worth grew 39% from January via September 2022, when in comparison with the identical interval in 2021. The knowledge additionally exhibits that account takeover fraud doubled in the identical time-frame versus 2021.

“We’re seeing a significant increase in the average ticket value of friendly fraud, indicating that fraudsters are targeting high-value items like electronics and travel,” mentioned Erika Dietrich, head of fraud administration and funds analytics, ACI Worldwide. “We expect this trend to continue into the 2022 holiday season and encourage merchants and shoppers to be vigilant. Orchestration between merchants’ fraud prevention and payment strategies will be crucial to protect all entry points and adapt to changing fraud behaviors and payment channels at the same time.”

* Holiday season refers back to the interval October via December.

** Average ticket worth refers back to the greenback worth of transactions, evaluating final yr to this yr, like-for-like international retail clients.

About ACI Worldwide

ACI Worldwide is a worldwide chief in mission-critical, real-time funds software program. Our confirmed, safe and scalable software program options allow main firms, fintechs and monetary disruptors to course of and handle digital funds, energy omni-commerce funds, current and course of invoice funds, and handle fraud and threat. We mix our international footprint with a neighborhood presence to drive the real-time digital transformation of funds and commerce.

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