Chase Paymentech Launches Third Annual Cyber Holiday Pulse Index
Index provides significant insights Into Internet holiday shopping
DALLAS--(AllPayNews)--Chase Paymentech, a leading merchant acquirer and payment processor, today launched an updated version of its Cyber Holiday Pulse Index (http://pulse.chasepaymentech.com), which will track online shopping activity throughout the 2009 holiday shopping season.
This year, Chase Paymentech’s Pulse Index will track over one million payment transactions daily at 50 of the top U.S. retail Web sites as ranked by Internet Retailer magazine.
In addition to compiling current activity, Chase Paymentech’s Pulse Index also presents year-over-year trends and is updated every business day throughout the first week of January to provide historical context on the overall metrics and identify emerging online shopping trends. This year, the index adds daily average ticket value, as well as sales volume and transaction volume, providing even more in-depth insights into year-over-year consumer behavior.
"Especially in these difficult economic times, merchants need every possible tool to understand the dynamics of the marketplace," said Mike Duffy, president of Chase Paymentech. "The Pulse Index will help the business community track the heartbeat of online shopping trends throughout the season."
The challenging economic environment took its toll on online shopping during the 2008 holiday season, according to the Chase Paymentech Pulse Index. In 2008 holiday online sales volume and transaction count both increased, but the average ticket, or amount per sale, declined. Overall, sales volume for the holiday season was up a modest 4.5 percent versus 2007. Transaction count was up a significant 16.5 percent, and the average value per transaction was down an unanticipated 10.3 percent.
Sucharita Mulpuru, Vice-President and Principal Analyst at Forrester Research, said, “Our most recent holiday retail forecast suggests that consumers will grow their holiday web spending by 8 percent this year. There are, of course, many factors—inventory availability, promotional activity, and events in the media—that ultimately determine whether retailers will actually experience that growth.
“The Chase Paymentech Pulse Index is a critical piece of our ability to assess how web retailers are faring on a daily basis,” she added. “It helps us to adjust our forecast and put our finger on the ‘pulse’ of web retail sales.”
Promoting E-Commerce Growth and Online Security
Chase Paymentech processes an estimated more than half of all Internet payment transactions, representing an average of 500 Internet payment transactions per second. As such, Chase Paymentech is uniquely positioned to provide and interpret this valuable e-commerce data for the larger business community.
Additionally, Chase Paymentech and Chase Card Services are committed to helping consumers shop online safely and securely. Consumers can learn more about safe online shopping by visiting chase.com.
About Chase Paymentech
Chase Paymentech Solutions, LLC (“Chase Paymentech”), a subsidiary of JPMorgan Chase (JPMC), is a global leader in payment processing and merchant acquiring, authorizing transactions in more than 130 currencies. The company's proprietary platforms provide access to a wide variety of payment methods, such as credit cards, debit cards, prepaid stored value cards and electronic check processing. In 2008, Chase Paymentech processed more than 21.4 billion transactions with a value exceeding $713.9 billion, including an estimated half of global Internet transactions. The company also provides a full set of solutions aimed at accelerating cash flow and managing transaction data. On the Internet or at the point of sale, Chase Paymentech's unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to companies both large and small. More information can be found at www.chasepaymentech.com.