Like most consumers, credit union members are increasingly shifting to online channels to shop for the holidays.
That’s according to an analysis of CO-OP credit union members’ credit and debit card purchases from Thanksgiving Day through Cyber Monday. 27.5 percent of all credit card purchases came from digital channels. That’s a more than 2-point increase as compared 2017’s 25 percent. Debit transactions that came from digital channels similarly increased by 2.2 percentage points (from 14.8 percent to 16.6 percent).
Our findings were in close alignment with a November 24 report by Adobe Analytics, which found that this year’s Black Friday was the first day in history to see more than $2 billion in sales from smartphones.continue reading »