New benchmark data from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, revealed a 23 percent increase in global eCommerce transactions in October 2020 compared to October 2019. This increase was driven by the retail, gaming, DIY and digital sectors as consumers prepare for further lockdowns. In addition, the data, based on hundreds of millions of eCommerce transactions from global merchants, showed a projected 25 percent increase in volume of transactions for all sectors combined (including those impacted by the pandemic, such as airline and ticketing) in Q4 2020 compared to Q4 2019.
ACI’s data also showed that the second wave of COVID-19 lockdowns in the EMEA region has already resulted in a more than 100 percent increase in eCommerce transactions in the retail sector from November 1-4, 2020.
“With the U.K. already in another lockdown and the U.S. potentially heading toward one, we’re seeing consumers prepare to hunker down for the holidays and get their shopping done earlier than ever,” said Debbie Guerra, executive vice president, ACI Worldwide. “Related, merchants are offering deals earlier, which has also driven increases in transaction volumes in October compared to the same time last year. We’re expecting this trend to continue as we move further into the holiday season.”
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ACI’s data from October 2020 showed a slight increase to 4.1 percent in the value of fraud attempts compared to the same period in 2019 as genuine consumers continue to outpace fraudulent consumers.
The gaming sector continued to see record levels of transactions, with a 90 percent increase in October 2020 compared to 2019. Sectors that continue to see a decline in transactions include travel (33%) and ticketing (79%).
“Lockdowns have led many consumers to cancel any plans to travel—such as holiday getaway vacations—or attend large group gatherings, leading to an even greater decline in airline and ticketing compared to the previous year,” Guerra concluded.
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