PayPal: Black Friday & Cyber Monday broke records with $1B+ in mobile payment volume

Black Friday broke records in terms of sales made from mobile devices, according to reports last week from Adobe. This week, PayPal said it saw a similar trend during the Thanksgiving to Cyber Monday shopping event. PayPal saw a record-breaking $1 billion+ in mobile payment volume for the first time ever on Black Friday – a […]

Black Friday broke records in terms of sales made from mobile devices, according to reports last week from Adobe. This week, PayPal said it saw a similar trend during the Thanksgiving to Cyber Monday shopping event. PayPal saw a record-breaking $1 billion+ in mobile payment volume for the first time ever on Black Friday – a milestone it hit again on Cyber Monday.

Mobile payment volume on Black Friday was up 42 percent over Black Friday 2017, the company said, and it even outpaced the mobile payment volume on Cyber Monday this year.

However, Cyber Monday saw more total payment volume, likely because much of the shopping that takes place that day comes from office workers back at their desktops, wrapping up a few more purchases.

Worldwide, mobile payment volume from Thanksgiving to Cyber Monday accounted for a significant 43 percent of PayPal’s total payment volume. Between those days, PayPal was processing more than $25,000 per second, with more than $11,000 per second processed on mobile.

The peak hour took place on Black Friday, which shows the sales event has shifted much of its business online. It’s now coming close to topping Cyber Monday in terms of both online and mobile shopping, PayPal noted.

PayPal’s data also pointed to another trend: that of the blurring of the line as to when holiday shopping begins and ends. Many retailers these days are launching their deals on Thanksgiving or even earlier, then allowing them to run for the week of Black Friday or longer.

Amazon, for example, has decided to capitalize on its own Black Friday/Cyber Monday momentum by launching a “12 Days of Deals” event that will feature hundreds of new deals every day from Sunday December 2 through Thursday December 13.

Other times, the shopping starts early, as PayPal’s data shows. Thanksgiving has now become another major shopping day, the company said, having broken into the top 10 shopping days of the year. It also grew 41 percent over last year.

E-commerce spending wasn’t the only thing that’s up year-over-year, PayPal also found. On Giving Tuesday – the event focused on donating to charities and other worthwhile causes – PayPal said over a million customers from 180 markets donated $98 million this year. That’s a 51 percent increase from 2017, it said.

U.S. mobile app stores had their biggest day ever on Black Friday 2018

Black Friday wasn’t just a boon for e-commerce retailers, it helped the mobile app stores break new records, too. According to a new report from Sensor Tower, the combined consumer spending across the U.S. Apple App Store and Google Play on Black Friday 2018 reached $75.9 million – a record for the most ever spent in […]

Black Friday wasn’t just a boon for e-commerce retailers, it helped the mobile app stores break new records, too. According to a new report from Sensor Tower, the combined consumer spending across the U.S. Apple App Store and Google Play on Black Friday 2018 reached $75.9 million – a record for the most ever spent in a single day on both stores.

The App Store accounted for most of that figure, however, with U.S. consumers spending a record $52 million on Black Friday. That’s a 31.6 percent increase in spending over last year’s shopping event, when consumers then spent $39.5 million.

It’s also notably higher than Christmas 2017, when spending reached $39.8 million – typically a strong day for app purchases and in-app sales, as consumers unwrap new iPhones.

The App Store’s $52 million was more than double the $23.9 million spent on Google Play during the same time.

Sensor Tower attributes the increased spending to a variety of factors, largely driven by mobile gaming. Game makers this year got in on the Black Friday action by offering players discounts on in-app purchases and other special bundles.

On the U.S. App Store, mobile gaming accounted for 68 percent of Black Friday spending, with consumers spending $35.4 million on games. That’s a 63 percent increase from the week prior, the report notes.

Other categories saw a boost, too, including Food & Drink and Sports – both reflective of the leisure time consumers had over the holidays. Food & Drink grew 34 percent while Sports grew 49 percent, Sensor Tower found, with top apps like NYT Cooking and ESPN: Live Sports and Scores benefitting from the surge.

Though the Black Friday shopping holiday is heavily associated with the U.S. because of its ties to Thanksgiving, the sales event is making its way around the world, too.

On the mobile app stores, that meant worldwide consumer spending saw a jump this year, as well.

The firm found that $117.3 million was spent by App Store users outside the United States on Black Friday, bringing the global total to $169.3 million, up 18.4 percent from 2017. The spending outside the U.S. was up 13.9 percent year-over-year, but that’s lower than the U.S.’s year-over-year growth of 31.6 percent between Black Friday 2017 and Black Friday 2018.

Also of note: while Amazon had its biggest day ever on Cyber Monday 2018, Cyber Monday didn’t perform as well on the app stores. In the U.S., app revenue was up about 20 percent versus the previous Cyber Monday to reach an estimated $37 million.