Global Retail Market Got 20% Value Bump From Prime Day: ACI
Transactions rose 25%, and transaction values 20%, vs. 2021 for the broader global retail market during Amazon’s Prime Day sales event last week, reported ACI Worldwide Data Wednesday. Growth was driven by mobile devices, electronics and electric products, with a…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
“small lag” in general retail products, said the payments software company. Amid high inflation, average transaction value (ATV) for buy now, pay later financing jumped 47%, by $52, year on year as consumers split higher-priced items into smaller installments, it said. Mobile devices had a 25% increase in transaction volume year on year vs. a 15% bump for non-mobile devices ACI said. Mobile device average transaction value was flat with 2021, while non-mobile grew 8%, “an indication that shoppers are becoming more comfortable with frequent mobile device purchases,” the company said. Desktop PCs "still dominate bigger ticket items." Credit and debit cards had a 22% and 25% rise in transaction volume and value; e-wallet sales grew 4% due to saved in-app card details that made it easier for shoppers to buy using credit and debit cards, it said. Fraud during the two days rose just 0.1% vs. 2021, despite the surge in transactions and more payment methods. Fraud attempts on e-wallets declined 0.2%. "The real success story throughout Amazon Prime Days has been consumer security," said Erika Dietrich, ACI Worldwide head-fraud management and payments analytics. "Despite shoppers buying more, paying more, and Prime Days being trailed for months, fraud attempts flatlined or faltered,” she said, crediting improved merchant fraud management systems and customer security habits. North America had a 22% increase in transaction value, with ATV growing 12%, $14, as customers grew their basket size, ACI said.