Paysafe Black Friday 2019 Commentary

By Daniel Kornitzer, Chief Business Development Officer, Paysafe

It goes without saying that Black Friday is one of the most important days of the year for merchants. Last year online sales jumped to a record breaking $6.22 billion in the US alone and there’s no reason to expect that this year will see any slowdown.

However, one significant shift we’ve seen is the way in which consumers, particularly younger demographics, make their purchases. ‘Traditional’ shopping on desktops and laptops has been increasingly replaced by mobile, to the point where it has been overtaken.

Research we commissioned this year shows that seven out of ten Gen Z (72%) and Millennial (79%) consumers now regularly shop online using a smartphone, while almost half of Gen Z (47%) now shop more on a mobile device than any other technology. This year’s Black Friday could well be defined by the battle for mobile shoppers.

To compete, merchants will need to make sure that they not only have a smooth mobile-first customer experience, but that they also have a smooth mobile payments process that accepts the most popular payment methods. Those that fail to do so will be handing over business to their fiercest competitors.

Source report here -- https://www.paysafe.com/lost-in-transaction-gen-z-expectations-at-the-checkout/