PayPal saw 27% Increase in Payment Volume on Black Friday

Nov 27 2010, 3:39pm CST | by Luigi Lugmayr

Black Friday 2010 shapes up to be much better for online retailer compared to last year. PayPal just announced Black Friday shopping results that show a rise in online and mobile sales. The company reported approximately a 27% increase in total payment volume on Black Friday 2010, compared to the previous year.

The PayPal numbers confirm the growth trend of the Coremetrics Black Friday report we featured earlier. The Holiday 2010 shopping season could turn out really great for retailers.

PayPal also found out that the official holiday shopping season began on Monday, November 15, 2010. On Black Friday 2010, consumers shopped most frequently between 9:00 a.m. and 10:00 a.m. PST. Black Friday 2010 resulted in 21% more total payment volume compared to Thanksgiving 2010. PayPal saw 19% more payment volume on Black Friday 2010 compared to an average Friday in 2010. PayPal processes 16.5% of U.S. eCommerce and 15% of global eCommerce.

Black Friday 2010 is over, but Holiday sales continue this weekend leading in the next big sale: Cyber Monday. Find the latest Holiday weekend and Cyber Monday deals of the season on TVs, Laptops, Phones, GPS, Blu-ray players and other gadgets in our Cyber Monday Hub.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.