PayPal today announced Black Friday shopping results, showing a rise in online and mobile sales on what is traditionally the biggest shopping day for brick and mortar stores. The company reported approximately a 27 percent increase in total payment volume on Black Friday 2010, compared to the previous year.
“With the convenience of shopping from a laptop or mobile phone, more people are choosing to avoid the long lines, parking chaos and early morning rush in exchange for great online deals available from the comfort of their homes.”
Proving that the online and offline worlds are blurring, PayPal saw an approximately 310 percent increase in mobile shopping on Black Friday.
“The tough economy has made shoppers more price-conscious, and this year’s Black Friday results show that they’re going online to find the best deals,” said Amanda Pires, senior director at PayPal. “With the convenience of shopping from a laptop or mobile phone, more people are choosing to avoid the long lines, parking chaos and early morning rush in exchange for great online deals available from the comfort of their homes.”
Other PayPal results from Black Friday 2010 included:
- PayPal found that the official holiday shopping season began on Monday, November 15, 2010.
- On Black Friday 2010, consumers shopped most frequently between 9:00 a.m. and 10:00 a.m. PST.
- Black Friday 2010 resulted in 21 percent more total payment volume compared to Thanksgiving 2010.
- PayPal saw 19 percent more payment volume on Black Friday 2010 compared to an average Friday in 2010.
- PayPal processes 16.5 percent of U.S. eCommerce and 15 percent of global eCommerce.
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 90 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay (Nasdaq:EBAY) company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later.
More information about the company can be found at PayPal.com. PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore.