- Significant increase in online transactions during the two days of Black Friday & Cyber Monday in Europe
- ‘Black Week’: consumers enjoyed online promotions during the whole week of Black Friday
The COVID-19 crisis has accelerated the growth of e-commerce across Europe and with the closure of so-called “non-essential” shops, consumers have turned to online shopping. As a result, Black Friday sales volumes have reached new heights. Worldline, the European leader in the payment and transactional services sector and number 4 on a global scale, recorded a significant increase in e-commerce transactions during the two days of Black Friday and Cyber Monday shopping season in Benelux and DACH regions.
Black Friday, a commercial retail event that originated in the United States, continues to grow in popularity each year. While Black Friday sales promotions were originally offered on in-store purchases, they are now also available online; this is how the ‘Black Friday effect’ has gradually become more visible in e-commerce. And with the current pandemic, the impact on e-commerce has been even stronger this year.
In Belgium, Worldline recorded an increase in online transactions of 40% during Black Friday 2020 compared to Black Friday 2019, and 105% compared to levels recorded on an average Friday. This was a new record and makes Black Friday the most popular day for online shopping in the country. In the Netherlands, the number of transactions showed an increase of more than 57% in comparison to an average Friday.
DACH region: In Germany, the number of online transactions grew by 50% compared to Black Friday 2019. The massive shift to online shopping may be seen as both an effect of COVID on consumer behaviour and the success of the promotional efforts of cyberspace merchants. In Austria, where only grocery and other essential stores were open during the Cyber Weekend, Black Friday showed an increase in e-commerce volume by approximately 45%. In the two countries, the comparison to the last normal Friday, November 20th, better illustrates the Black Friday effect: Germans spent around 45% more in online shops, in Austria it was 127% more.
Cyber Monday rounds off the Cyber Weekend
In Belgium, Cyber Monday is one of the most popular online shopping days of the year. Consumers want to find the best online offer on that day and therefore expect their favourite retailers to offer the ‘deal of the year’. Worldline saw an increase of 39% in online transactions on Monday 30 November compared to the same Monday last year, making it the 2nd record-breaking day in the history for the country’s online payments.
DACH region: In Germany and Austria, the trend is visible but not that manifest yet, with e-commerce transaction growth rates of 16% compared to Cyber Monday last year in Germany. Austria saw an increase of 12% in transactions during this peak shopping period.
Growing trend in e-commerce in 2020
Faced with the closure of a large majority of physical stores, many consumers, looking for alternative way of shopping, have turned to e-commerce.
Faced with these new purchasing habits and in order to be able to continue their retail activities, local shopkeepers are increasingly utilising e-commerce services. This has led to the growth of Worldline Click & Collect and Pay by Link solutions.
Roger Niederer, Chief Market Officer Merchant Services at Worldline, says: "The data speak for themselves and it is clear that if retailers wish to emerge from this crisis as winners, they must integrate digital solutions into their customer journey in order to pave the way for long-term and sustained growth. Worldline has put in place strong commercial actions and measures to digitalise its customers and thus enable local merchants to better position themselves in the growing world of e-commerce.”
Note: These figures reflect market trends for two-very specific days and should not be taken as a proxi for the month of November.
