PerimeterX Prevents Over $1.5B in Losses from Account and Purchase Fraud Over Cyber 5

Cyber 5 — the five days from Thanksgiving through Cyber Monday — is considered the largest shopping period of the year. Online retailers raked in $33.9 billion during Cyber 5 2021, including $10.7 billion on Cyber Monday alone. Although the return to in-person shopping led to a 1.4% YoY decrease in revenue from 2020, the average shopping cart value rose 13.9%, leading to a significant increase in e-commerce revenue.

As with any major online shopping event, e-commerce businesses saw an influx of not only legitimate human buyers, but also automated bots and cybercriminals attempting to steal personal data and make fraudulent purchases.

Fortunately for our customers, PerimeterX was prepared to stop the attacks. Over the course of the five-day period, our platform prevented more than $1.5 billion in attempted fraudulent purchases by stopping the theft, validation and use of account, identity and payment information. In addition, PerimeterX stopped $37 million worth of fraudulent gift card purchases during Cyber 5.

As the leader of the PerimeterX Research Team, I want to share some important Cyber 5 trends that suggest what the future of online shopping will look like.

Overall traffic increase during Cyber 5

We saw a steady increase in traffic from late October throughout November, with clear spikes on Black Friday and Cyber Monday. Traffic rose an average of 1.02% each day, until Black Friday, which had an increase of 27% from the prior days. On Cyber Monday we’ve seen a similar jump to the one seen on Black Friday, at 28% over average in the days prior to the Cyber-5 weekend.

Zeroing in on the specific days in and around Cyber 5, we see that Black Friday and Cyber Monday not only had increased traffic throughout the day, but specifically during 9:00am- 7:00pm (Read more...)