Green Monday (2016 vs. 2017): Trends in Naughty and Nice
This blog post is a follow up to our recent blog posts “Comparing 2016 and 2017 Holidays: Trends in Naughty and Nice” and “Best Practices for Fighting Holiday Fraud".
As we noted previously, accurate, timely data is essential to successful online eCommerce. That’s the reason we are sharing the latest data from Green Monday (December 11, 2017) using a representative sample of the millions and millions of transactions we’ve processed. These findings are based on the activity of Kount’s high-growth online business customers from a cross section of different market segments.
The biggest “nice” trend from Green Monday? Mobile app sales continued the triple digit growth rates we saw on Black Friday and Cyber Monday. Other good news? Desktop fraud attacks on Green Monday were actually down compared to 2016.
|247% increase in mobile app sales|
|12% decrease in desktop fraud attacks|
The declining desktop fraud attacks might be attributable to the success these merchants had last holiday season and throughout 2017 in thwarting fraudsters with Kount. We’ve seen that when criminals run into strong fraud prevention, they quickly give up and move on to weaker, more vulnerable targets.
What about “naughty” trends? Fraudsters continued to escalate their fraud attacks in the mobile channel. And, unfortunately, 2017 Green Monday mobile browser sales did NOT increase and desktop sales were down compared to 2016.
|194% increase in mobile app fraud attacks|
|No increase in mobile browser sales|
|7% decrease in desktop sales|
There are still plenty of good online shopping days left in the 2017 holiday season. In fact, a total of 29 days with +$1 billion in eCommerce sales were projected for the November 1 through December 31 time frame. Four of those +$1 billion days are predicted to fall between Green Monday and Christmas, with multiple half billion days to occur through the end of the year.
Of course, where there is strong eCommerce, there is card-not-present (CNP) fraud. What can online businesses do to fight fraud attacks in the coming days? With the high incidence of mobile app fraud, a good resource to start with is our eBook “The Download on Mobile App Fraud". You’ll discover how to prevent mobile app fraud while reducing friction to increase mobile conversions. In addition, our blog post “Best Practices for Fighting Holiday Fraud” details 8 practices that will help you protect your online store against criminals:
- Analyze your data to determine normal behavior.
- Strategize abnormal buying patterns for the holidays.
- Determine your KPI benchmarks.
- Update your fraud rules and thresholds for risky orders.
- Place multiple layers of technology in the way of fraudsters.
- Train fraud analysts on holiday trends and train on a consistent basis.
- Review, analyze, and update as needed.
- Partner with your data team and/or fraud solution provider.
In the coming weeks, look for our holiday wrap up blog posts, where we’ll share more data and insights from the 2017 holiday season. In the meantime, check out the eBook “Prosecuting the Perps: How to Ruin a Bad Guy’s Day” to discover how pursuing criminal charges against fraudsters this holiday season can help deter fraud attacks in the coming year, including next holiday season.