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Written by: Bill Hartzer
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Chase Paymentech Says 2007 Online Holiday Retail Sales Grew by 29 Percent
Any interesting report is out today from Chase Paymentech, saying that the online holiday retail sales for 2007 grew by a whopping twenty nine percent.
The sales volume and the actual number of transactions was gathered at ten of the biggest U.S. online retailer sites during the 2007 holiday shopping season. The 2007 holiday shopping season is defined as the first Monday in November (this year it was November 5, 2007) through the first Monday in January (this year it was Jan. 7, 2008). The Chase Paymentech Pulse Index tracked an average of 1.7 million payment transactions each day for 10 of the top 30 U.S. retail Web sites (as identified by Internet Retailer Magazine).
For the full holiday season, Chase Paymentech Pulse Index eRetailers realized $5.482 billion in net sales on 108.4 million transactions–as compared to $3.262 billion in sales from 83.9 million transactions in 2006 for these same eRetailers last year.
What’s also interesting to note is the four-day span in mid-December (December 11th-December 14th) generated $598.1 million in online sales for Chase Paymentech Pulse Index merchants for a daily average of $149.5 million. Chase Paymentech reports that this was the “busiest sustained activity of the 2007 online holiday season”, and it “occurred two weeks prior to Christmas Day”. This is direct evidence that more shoppers going online to do their holiday shopping while ensuring that those gifts would be received in time for Christmas.
Other significant data from Chase Paymentech includes:
– Single-day highs: $168.9 million in sales and 3.05 million in transactions (both on December 18)
– Highest single-day average ticket order: $62.57 (November 28)
– Busiest online shopping day of the week: Wednesdays, with average dailysales of $103.7 million
– Least-busy day of the week: Sundays, with average daily sales of $61.5 million
The Chase Paymentech Pulse Index tracks more than one million payment transactions every day at ten of the top 30 U.S. online retail Web sites, as identified by Internet Retailer magazine.