2016 was a big year of growth for our merchants. We decided to take a look at some of the year over year (YoY) holiday sales growth from 2015-2016 for our merchants.
In the accompanying infographic, you’ll see three datasets: YoY growth by specific holiday, YoY growth by region, and YoY growth by payment types. For the latter two sets of data, the date range used was November 15- January 4.
Looking by holiday, we see that Black Friday had the highest percentage of growth, coming in at a whopping 107%. This is especially interesting since we are an eCommerce gateway. All of our merchants are online vendors, but they saw more growth on Black Friday than Cyber Monday. According to a study by Adobe, our merchants were not the only one who experienced higher growth rates on Black Friday. Adobe reports a 12.1% YoY growth rate for Cyber Monday, compared to 21.6% YoY growth for Black Friday.
We looked at four main regions to calculate growth: the US, Canada, LaAm, and Europe. In an effort to improve the Powered Buy Platform, we made several enhancements to our global capabilities this year, improving the ability to sell in Canada and LatAm. It is unsurprising that as a result, we saw a 127% increase in holiday sales in Canada.
Moving on to growth by payment type, we see local bank transfers had unusually high growth, followed by electronic checks and PayPal. This is good news for alternative payments. They are being adopted by more and more consumers, and merchants who offer ACH, PayPal (and in 2017 additional mobile wallets) will see the highest levels of success.
The 2016 holiday season was quite the success for our merchants, and we look forward to the growth that 2017 will bring.