Lessons From 2023 Holiday Shopping Season And 2024 Payment Trends

There are a few key prime shopping times of the year, and the end-of-year holiday season is generally considered one of them, filled with sales, promotions, and consumers rushing to get gifts for Christmas time.

Recent data from the US National Retail Federation (NRF), retail trade group, shows that the 2023 holiday shopping season was a strong one, reportedly fueled by an appetite for beauty products, apparel and electronics sales across both brick-and-mortar and online channels rose 3.8% rise to $964.4 billion n the November through December period.

Now that’s the US, but what was the situation like here in Malaysia? Soon Yean, Malaysia Country Manager of Adyen joins us to break down lessons from the 2023 holiday shopping season, but also look ahead to payment trends in 2024.

Adyen provides payments services to large enterprises, which makes them well placed to share insights on the retail landscape and how Malaysian retailers can win the wallets of shoppers. Globally, they also enable their global customer base to leverage payments data to drive revenue and optimise efficiencies.