The 12th annual edition of Black Friday brought with it sales increases for a large part of the retailers that took part in the campaign. The major players in the market have declared increases of more than 5% in sales compared to the year 2021.
Black Friday from the end of October to the end of November
This year, the Black Friday sales started right at the end of October, and some retailers ended the campaigns at the end of the month. Unlike other years, the evolution of sales was not as accelerated in the first period because from the very beginning retailers announced longer campaigns.
The peak of the Black Friday campaigns was Friday, November 11 and the 2-day weekend that followed. However, many of the retailers report that they had higher sales than in a regular period and the rest of the days. Most of the online stores continued the Black Friday campaigns until the end of November, and a good part of them differentiated by name the Romanian Black Friday campaign from the international Black Friday campaign from the last weekend of November.
Almost 120% increase in PayPo transactions volume over Black Friday weekend
During the Black Friday weekend (November 11 - 13), the number of transactions made using the PayPo payment method increased by 120% compared to the previous weekend (November 4 - 6), according to data presented by PayPo, the market leader in Poland in relation to Buy Now Pay Later deferred payment methods.
According to PayPo, the total value of transactions paid through PayPo increased by 125% during the same weekend compared to the previous weekend. Also, the number of transactions on Black Friday, November 11, was 53% higher than the daily average number of transactions in November.
Over 5% YoY growth reported by major players
According to data published by eMAG, the online retailer recorded sales of 644 million lei on Black Friday, 35 million lei more than in 2021. Online payment processor PayU also reported a 15% increase in the number of transactions on Black Friday.
Studies conducted by ARMO and GPeC together with iSense Solutions anticipated a growth of more than 10% this year for the entire e-commerce sector. Also, alternative payment methods such as Buy Now Pay Later (BNPL) payment methods and installment payment methods were also on the rise, according to the statements of the main players in the market and most online retailers saw them as being a growth engine for Black Friday campaigns.
"PayPo is not only a deferred payment method whose popularity is growing, but also a real engine of increasing the conversion rate for retailers and online stores. We see an increase in consumers' need to access a wider variety of payment methods, especially during the peak shopping season, and for the merchant, implementing alternative payment methods means greater customer satisfaction and increased sales value ”, declares Raul Durma, General Manager & Board Member PayPo Romania.
PayPo is a Polish company, founded in Warsaw, leader in the Buy Now Pay Later (BNPL) segment in Central and Eastern Europe. The company was launched in Romania in October and its portfolio already includes online stores MODIVO and ePantofi. PayPo's objective is to offer online shoppers a smart alternative payment method, one where the order is not paid for on the spot, but only after 30 days, after the customer has decided to keep the products.