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Mother’s Day Online Shopping Activity Hits Record High
For online retailers, Mother’s Day is rapidly becoming one of the most important days of the year. In May, VeriSign released new data that showed a dramatic rise in online sales on Mother’s Day, accounting for $4.4 billion in sales, a 24% increase as compared with the same time period (April 26 through May 9) in 2004. The greatest sales came in jewelry, on which online spending increased 79%, and diamonds in particular saw a dramatic 101% rise in purchasing.
This strong growth signifies both a changing attitude towards Mother’s Day and a growing consumer confidence in big-ticket online purchases. Once thought of as minor event marked by a card and a phone call, Mother’s Day is rapidly becoming one of the year’s largest retail holidays, and online retailers are adjusting their strategies to meet this demand. In particular, the increases in jewelry sales points to a significant rise in consumer assurance towards purchasing expensive and sentimentally significant products online. The VeriSign Secured™ Seal, widely recognized as a leading symbol of digital security, has played a central role in this rise in confidence. “Online retailers increasingly count on VeriSign to reliably process their transactions,” says Trevor Healy, vice president of Payment Services, VeriSign. “We will continue to have unique insight into consumer spending habits for this holiday and other major retail events.” The press release on these statistics has more information.
The transactions were processed through VeriSign Payment Services, which processes the transactions for more than 135,000 online retailers. Through the operation of these services, VeriSign has a unique ability to correlate intelligence on online spending
