Alipay Transaction Growth Soars During Golden Week
Golden Week 2017: Alipay stats
*Note: All comparisons are on a YoY basis against last year’s regular seven-day Golden Week holiday, unless otherwise noted. Spending figures refer specifically to in-store transactions, unless otherwise noted.
• This Golden Week, Alipay users conducted eight times as many in-store transactions overseas as they did last year.
• Asia dominated the list of top-ten destinations in terms of transaction volume.
o Hong Kong topped the list, followed by Thailand, Taiwan, Japan, the Republic of Korea, Macau, Malaysia, Singapore, Australia and New Zealand.
• Asia also saw much of the fastest growth in Alipay use from last year.
o In Singapore, transaction volumes increased by a factor of 30.
o In Japan transaction volumes were 16 times last year’s figure, while in Hong Kong and Taiwan volumes were 13 times the 2016 figure.Thailand saw six times the transaction volume of last year.
• Alipay use also grew substantially in other parts of the world.
o In Australia, transaction volumes increased 20 times, while New Zealand saw a six-fold increase.
o Europe, meanwhile, saw volume reach six times last year’s figure. Germany, the UK and France accounted for 40%, 23% and 22% of European transaction volumes, respectively. Italy, where Alipay launched just this April, accounted for a further 5%.
• Per capita spend increased by 50% to 1,301 yuan.
• Unsurprisingly, per-capita spending was much higher than average in destinations outside Asia, particularly in Europe, where users spent an average of 3,150 yuan through Alipay.
o Switzerland posted the highest per-capita spend (36,298 yuan (US$5,506)) of any country or region, well over ten times the average for Europe as a whole.
o The U.S. and Canada (1,648 yuan) and Australia and New Zealand (1,415 yuan) were also above the global average (1,301 yuan).
• Those born in the 1980s and 1990s accounted for 84% of all users.
• Users consumed over 1.2 million e-coupons in Alipay. 200,000 of these were consumed in Hong Kong alone.
More websites for Point-of-sale niches:
POS-Advice.com – a 100% focus on restaurant point of sale technology and trends. Offers insightful posts and resources.
POSforum.net – a support forum where users share information and answer tech questions for various restaurant POS products including Oracle/Micros and Aloha.
Restaurantsoftwarelist.com – A list of technology solutions for restaurants and hospitality. Find developers, manufacturers, resellers and processors.
Digital POS Magazine – 28-32 pages about Point-of-sale – Approx 8x a year. Each issue varies in focus for assorted trends or major industry shows.
BarCode.com – Great content on bar codes, bar code printing, labels, bar code supplies, RFID, IoT, UPC codes, QR codes and much more. Over 3,000 articles and completely free. Includes a free barcode label making tool and where to buy a bar code for your products.
Other POS News:
- Global Payments to Report Third Quarter 2017 Earnings on November 8, 2017
- Volante Technologies’ VolPay Hub integrated with TokenOS to accelerate Open Banking
- NRT and Sightline Announce Exclusive Agreement with Kony to Create Digital Platform
- Criteo Commerce Marketing Ecosystem Empowers Retailers and Brands to Forge a Path
- Criteo and Forbes Insights Unveil New Study, “The Commerce Data Opportunity”
- Mastercard and U.S. Bank Launch First EMV Fleet Solution
- U.S. and EU Retailers Agree on Common Approach to New Data Regulations
- Orchard Supply Hardware Implements Advanced Analytics from Mi9 Retail
- Global Merchants Welcome New-Generation Chinese Tourists with UnionPay Card Services
- DHL and MallforAfrica Team Up to Further Cross-Border E-Commerce to the United States