Online Shoppers spend almost €1million per hour

According to figures released by Realex Payments, online sales peaked on Monday, December 1st 2008 with over 112,000 transactions valued at €22.6Million processed the company, equating to over €942,000 spent per hour by online shoppers!

The online channel appears to bucking the current downward trends by continuing to experience positive growth figures; Realex Payments has processed transactions valued at a staggering €4.9Billion for the year to date, increasing from €3.4Billion for the same period in 2007.

Despite challenging economic conditions globally, the online industry is still on the up, with the number of transactions processed by Realex Payments increasing by almost 31% over the same period in 2007. So far in 2008, the company has processed in excess of 26 million transactions, up from 18 million transactions for the same period last year.

The company estimates that by year end they will have processed in excess of 30 Million transactions – taking into account seasonal high transaction volumes which will be experienced in December. “Cyber Monday” as it’s referred to in the online trade, is the Monday after “Black Friday” in the USA (the day after Thanksgiving). Cyber Monday is one of the last days to shop online ensuring delivery prior to Christmas.

Colm Lyon, Founder and Managing Director of Realex Payments commented “the online market place offers a huge opportunity for organisations to reach new customers and increase sales in new regions, which is particularly important in challenging times we’re currently experiencing. It’s not only large businesses that can benefit from the online sales channel, the internet enables companies of all sizes to sell to the global marketplace in a cost effective manner.”