Payment processing firm Ingenico Group reported that it processed more than three times as many online transactions on Singles’ Day as it does on an average day, with growth particularly strong in Latin America, North America, Russia and key European markets.

Russian consumers completed more than 10 times as many transactions on Singles’ Day as on an average day. They also spent significantly more per transaction than they would normally, with a 35 per cent increase in Average Transaction Value. Together this represents an almost 15-fold increase in total spending.

In Latin America, growth was most pronounced in Chile, where the number of transactions processed by Ingenico was almost nine times the normal number. By comparison, growth in the region’s bigger e-commerce markets was more modest, with Mexican consumers completing 91 per cent more transactions and growth in Brazil at 30 per cent, although both numbers are based on much bigger volumes.

In Europe, consumer awareness and participation in Singles’ Day sales varied wildly from market to market. Among the biggest Singles’ Day shoppers were the Spanish, where the number of transactions was almost five times higher than normal. France and Germany found themselves in the middle of the pack, with transactions increasing by 54 per cent and 15 per cent respectively. In the UK, transactions with Chinese merchants, who are the key drivers behind the success of Singles’ Day, were up 10-fold on the day.

In the US, the number of transactions on Singles’ Day jumped 22 per cent from the daily average, while Canada saw a 61 per cent increase.

Nick Tubb, e-payments general manager in APAC for Ingenico Group, commented: “Singles’ Day has grown to become the biggest one-day online shopping event in the world, but we’re still only at the beginning. The rest of the world is just discovering the great shopping opportunities that Singles’ Day offers.

“Chinese merchants have been the driving force behind the success of Singles’ Day, and we are very proud to work with so many of them on the exciting journey of taking Singles’ Day beyond China and into the rest of the world.”

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