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Economist: 51% increase in ‘postpay’ usage during Black Friday

2021-12-01 (16:55) – Economic

sireOne of Europe’s fastest growing payment processors, reveals its annual insight into online payment trends for SMB merchants during Internet Week (including Black Friday and Internet Monday). The data shows that “postpay” purchases are becoming increasingly popular.

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.

Categories Insights

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.

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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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