Global eCommerce sales continued to show strong growth in May, with certain sectors experiencing triple-digit year-on-year growth, according to an analysis by ACI Worldwide of hundreds of millions of eCommerce transactions from global merchants. Overall retail transaction growth of 81 percent in May, compared to the same period last year, was primarily driven by sportswear and sporting goods (216%), retail specific to housewares and DIY supplies (190%), and gaming (84%).
Read more: How Contract Acceptance Is Evolving with New Customer Experience Expectations
84% rise in May #eCommerce sales, @ACI_Worldwide research reveals. Easing of lockdown restrictions reflected in trends across #retail; #DIY and sportswear recover while growth in home office and electronics levels off #fraud #payments #merchant
The sustained increase in eCommerce transaction volumes reflects a further full month of wide-ranging COVID-19-related restrictions, with consumers opting for online and click-and-collect channels over brick and mortar stores. However, the easing of lockdown restrictions in many countries is reflected in certain sectors that until now have experienced the biggest boost; gaming purchases were up 126 percent over the previous year in April, compared to 84 percent in May, while electronics were up only 32 percent in the past month after having been up more than 55 percent in April. Sectors that have been most negatively impacted showed a slight recovery in May; travel was down 91 percent in April, while in May improved slightly to 73 percent lower than the same period last year.
Read More: Everbridge Appoints Finastra CEO Simon Paris To Its Board Of Directors
“While many of the trends in eCommerce purchasing behavior that emerged in March and April have continued, we are starting to see the impact that the gradual easing of restrictions is having on retail activity,” said Debbie Guerra, executive vice president, ACI Worldwide. “People working from home are now set up, and we see spending shifting from home office supplies back toward consumer goods like sporting goods and home improvements.”
Fraud attempt rates for May were at 3.4 percent, down from 5.3 percent and 4.4 percent in March and April, respectively. Not only did fraud rate by value decrease in May, it was also the first time this year that fraud decreased on a year-on-year basis (3.8% in May 2019). However, the average ticket price of attempted fraud increased by $18, driven by electronics and retail goods. Meanwhile, non-fraudulent chargebacks have increased 25 percent overall, with airline and ticketing sectors particularly impacted. Chargebacks are taking slightly longer to process due to COVID-19 (on average, 7 days longer) as issuers and merchants strive to maintain positive consumer experiences.
Read More: Gartner Identifies The Top Five Customer Service Technology Trends For 2020