Wednesday, November 26, 2008

10:25am Black Friday = Busiest Online Shopping Minute

NEW YORK, November 26 /PRNewswire/ -- Retail Decisions (ReD), a payment card issuer and world leader in payment card fraud prevention and payment processing, predicts a bustling Black Friday on November 28 with 10.00 am - 11.00 am being the busiest online shopping hour of the year, with the peak shopping moment at 10.25 am. 

December 1, Cyber Monday's busiest hour will be between 9.00 am - 10.00 am. This will be the second busiest online shopping hour of the year with a peak shopping moment at 9.49 am.

ReD is forecasting that volumes will rise by 18% on a like-for-like basis vs. 2007. The Average Transaction Value in the United States will fall by 9%.

"A change in consumer behavior is evident with more and more consumers spending their dollars on 'stay at home' items such as fast food and "Pay As You Go" TV, as vacations are replaced by staycation. The recession has brought a new found frugality that is causing people to shop smarter, budget better and exploit sales," said Carl Clump, CEO of Retail Decisions.

As a global leader in real-time card payment fraud prevention, ReD processes some 16 billion transactions annually, providing a unique perspective on sales, volumes and trends around the world.

Source: Company Press Release

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Ramping Up Internet Promos - Bricks and Mortar

As they brace for the worst holiday shopping season in decades, major "bricks and mortar" merchants are ramping up their Internet promotions more than ever in hopes their websites will drive people to shop their brands.

"When times are desperate, this is the cheapest way to try to drive sales," said Sucharita Mulpuru, an e-commerce analyst at Forrester Research Inc. "It's the easiest message that you know is going to work, and certainly retailers are going to try it."

In October, retail sales suffered the largest percentage decline since 1992 - 2.8 percent. And forecasts are just as bleak for the holiday shopping season, the roughly month long period between the Thanksgiving and Christmas holidays when many retailers get as much as a third of their annual sales.

(Click to Read the Entire Story From the Boston Globe in a new window)

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