Economist: 51% increase in ‘postpay’ usage during Black Friday
2021-12-01 (16:55) – Economic
The analysis covers tens of thousands of traders across Europe, mostly from the Netherlands, Belgium, Germany, the UK and France.
Black Friday, Internet Week and Internet Monday trends;
Payment methods and merchant performance
– Paying with Postpaid more than doubled from 2019 to 2020. This year, its use increased by 51% for online purchases.
– SME merchants across Europe saw a 102% increase in total transaction volume on Black Friday compared to the previous Friday.
Before Cyber Monday, there was a 16% increase in total transaction volume compared to the previous Monday.
The times when the highest transaction volumes were recorded on Black Friday varied by country. In the Netherlands, the main shopping peak was between 13:00 – 14:00, in Germany 11:00 – 12:00, in Belgium 16:00 – 17:00 and in France 19:00 – 20:00.
– 21% of Cyber Week’s transaction volume, excluding Cyber Monday, was made on Black Friday.
Average transaction volumes and average transaction values increased across the apparel, footwear, accessories, home electronics and sporting goods categories.
The sporting goods category was the “star” of Black Friday this year, with an eightfold increase in average transaction value compared to apparel, footwear and accessories.
Retailers of apparel, footwear, and accessories did well during Internet Week and Black Friday, but Cyber Monday proved to be the strongest day during this period. Volume growth on Cyber Monday was double what it was on Black Friday.
The increase in subsequent payments suggests something else: a distorted view of sales numbers from this internet week. People could have asked for too much, but they also send too much.
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