New data from PayPal further confirms mobile’s contribution to e-commerce retailers’ bottom lines over Thanksgiving and Black Friday. According to data from its network, mobile devices accounted for a third of all total payment volume on both of these highest shopping days this year – figures that back up earlier reports that mobile accounted for roughly a 3rd of online spending on Black Friday.
Adobe recently reported that Black Friday online spending had hit a record-breaking $3 billion this year, with over a billion coming from mobile devices.
PayPal’s figures offer a second confirmation of this larger trend. Its number is notable because its network today reaches 192 million active clients and 15 million active merchants. On both Thanksgiving Day and on Black Friday, PayPal found that approximately 1/3 of all payment volume on its network was taking place on mobile devices, the company says.
PayPal also noted that Black Friday still topped Thanksgiving on a couple of key metrics. The total payment volume per second on Friday was $15,507.00, compared with $10,781.00 for Thanksgiving. In addition, Black Friday shoppers spent more, as the average amount spent was $62.35 on that day, compared with $58.51 on Thanksgiving Day.
PayPal found that shoppers were spending the most on fashion purchases on both days, but that seems to be more an indication of the types of merchants in its network, rather than something that’s representative of a larger online shopping trend. After all, what’s selling will vary by retailer. For example, Amazon said that its Echo Dot the best-selling item on Thanksgiving and Black Friday, and its customers had also ordered over 3 million toys.
However, what both Adobe and PayPal’s reports point to is how Black Friday online shopping now stretches across multiple days, instead of only taking place on Friday, and then getting boosted again by the retailer-dubbed event known as “Cyber Monday.”
Its report comes from data pulled by over 17,000 companies worldwide, including 7 of the top 10 companies in the Fortune 500, which is great enough to indicate larger online shopping trends.
Black Friday and Thanksgiving sales saw larger growth than what’s being estimated for Cyber Monday, IBM also noted. Online sales for global retailers increased by nearly 24 percent year-over-year on Thanksgiving and were up over 28% on Black Friday.