ST. PETERSBURG, Fla.—Consumers started shopping earlier and spending more this holiday shopping season, according to preliminary data from PSCU.
The company said analysis by its Advisors Plus and Data and Analytics teams analyzed spending data from Thanksgiving, Black Friday and Cyber Monday. Among the findings:
- Sales volume for PSCU credit unions on Thanksgiving, Black Friday and Cyber Monday was more than 15% higher than 2018
- Average ticket – or average dollars per transaction – for PSCU credit unions increased by 11% on debit cards and 2% on credit cards year over year
- Use of mobile wallets by members of PSCU credit unions increased by 155% with PayPal, Apple Pay and Samsung Pay as the leading choice among consumers
‘Taking Advantage of Deals’
“Although this year’s shopping season is shorter, in looking at November volumes, we see that consumers are taking advantage of holiday deals,” said Ivana Spadijer, program manager, Data Science and Insights at PSCU, in a statement. “Sales volumes have increased and, with the busiest shopping weekend upon us, this holiday shopping season is expected to surpass last year’s volumes.”
PSCU said it will release in-depth analysis of this year’s holiday shopping season in January 2020.