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Tuesday, November 30, 2010

PayPal reports 310% annual increase in mobile shopping on 'Black Friday'

Online payment company PayPal saw an annual increase of approximately 310% in mobile shopping on Black Friday, the busy retail day that follows Thanksgiving Day in the US. It also reported a year-on-year increase of around 27% in total online payment volume on Black Friday 2010.

Amanda Pires, senior director at PayPal, said “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. 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.”

PayPal currently processes 16.5% of all US eCommerce and 15% of global eCommerce.

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Author: The Fonecast
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