Online Holiday Shopping to Hit Peak on Tuesday, December 14th
Data shows web buying shifting earlier in season
MOUNTAIN VIEW, Calif., December 10, 2004
CyberSource Corporation (NASDAQ: CYBS) predicts this coming Tuesday, December 14th will be the biggest online shopping day of 2004. The estimate is based on analysis of CyberSource transaction volume, shipping days remaining before December 25th, and merchant incentives to encourage earlier ordering.
"Our data shows Mondays and Tuesdays are typically the biggest online shopping days throughout the year," said Doug Schwegman, CyberSource director of market and customer intelligence. "We believe people do their in-store looking and peruse specials advertised in Sunday papers on the weekend. They then do their shopping via high speed internet connections at the office. Based on current transaction trends, our best estimate for this year's peak online sales day is Tuesday, December 14th."
Why not December the 20th or 21st, the Monday and Tuesday immediately preceding Christmas? "Plenty of people will order on those days," said Schwegman, "but we think a larger group of online customers will consider that too little time to allow for reasonably priced, reliable delivery of Christmas packages." The peak shopping day has occurred earlier during each of the past two years: in 2002 it was December 17th, in 2003 it was December 15th. CyberSource believes that is mostly due to store incentives to order earlier -- online merchants have learned their lesson in prior years about unmanageable shipping volume the last few days before Christmas.
CyberSource processes electronic payments for leading web merchants. In the first three quarters of 2004 the company processed over 300 million transactions.
About CyberSource
CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center/IVR, and POS environments and manage fraud risk associated with card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes enterprise-wide commerce transaction systems. Over 5,000 businesses use CyberSource solutions, including half of the Dow Jones Industrial companies. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States. For more information, please visit CyberSource's web site at www.cybersource.com or email info@cybersource.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995
Statements in this release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding the Company's expectations, objectives, anticipations, plans, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements in this release include, without limitation, statements regarding: (1) the peak day for online shopping; (2) consumer behavior; and, (3) merchant behavior. Factors that could cause actual results to differ materially from the forward looking statements include risks and uncertainties such as unforeseen system failures, and other risks indicated in our filings with the Securities and Exchange Commission. It is important to note that actual outcomes could differ materially from those in such forward-looking statements. Readers should also refer to the documents filed by CyberSource with the Securities and Exchange Commission, specifically the annual report filed on Form 10-K for the year ended December 31, 2003, filed with the Securities and Exchange Commission on March 11, 2004, and our quarterly reports filed on Form 10-Q from time to time, all of which identify important risk factors.
Editorial Contact:
Bruce Frymire
CyberSource Corporation
650.965.6042
bfrymire@cybersource.com
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