First 2 Weeks Of December Show Dramatic Retail Increases
Consumers are spending.
It shows in the number of transaction tracked by Accertify, an American Express company that provides fraud and charge-back solutions to 40% of the internet retailer’s top 100 merchants, global airlines and U.S. ticketing and entertainment websites.
The company analyzed transaction volumes to determine online shopping trends between December 1-15, for 2019, 2020 and 2021.
“The retail industry continues to impress even after Black Friday and Cyber Monday,” said Jeff Wixted, vice president of marketing and client solutions at Accertify. “We are seeing the highest growth rates for 2021, compared to 2020, 15% growth. We’ve also experienced some of the largest volume days over this time period.”
- Retail saw a 28.5% increase for transactions in 2021, compared with 2019
- Travel saw a 3.9% increase for transactions in 2021, compared with 2019
- Entertainment saw a 11.8% increase for transactions in 2021, compared with 2019
- Retail saw a 15% increase for transactions in 2021, compared with 2020
- Travel saw a 104.8% increase for transactions in 2021, compared with 2020
- Entertainment saw a 597.9% increase for transactions in 2021, compared with 2020
Wixted said the company saw more volume from December 1-15, compared with November 16-30, and that time period included Black Friday and Cyber Monday.
“While there is a normal procrastination crowd in these numbers, that doesn’t explain all the growth,” he said. “The Omicron variant is likely pushing more shopping online, too. It’s probably a number of factors, but nonetheless an incredibly healthy retail season from October 1, through December 15.”
The Omicron variant, as expected, disproportionately struck the travel industry.
While the collective volume rose year-over-year (YoY) 104.8%, compared with 2021 vs. 2019 at 3.9%, it fell 13.6% when compared against the Nov. 1 and Nov. 15, time period. International travel open to the U.S. last month, but the Omicron variant has led to increased COVID-19 testing, dramatic travel reductions in Southern Africa, Japan, Austria and other nations temporarily closing their borders to nonessential travel.
The entertainment industry fared much better when comparing 2021 with 2019. Volume rose 11.8%, according to Accertify’s data. People feel more comfortable going to a Chicago Bears game than going on an international flight.