Black Friday is organized in an atypical year, marked by the coronavirus pandemic. But that doesn’t necessarily mean he can’t break previous records.
Many experts expect spectacular increases this Black Friday. Even though it is a pandemic and, theoretically, people are more cautious when it comes to purchases, PayU estimates that online transactions will increase by 150% compared to the previous year.
It would therefore be a record, both in terms of volume and number of transactions.
Black Friday 2020: Spectacular growth is expected
PayU Romania, an online payment processor, estimates that online payments of 764 million lei and approximately 1.4 million transactions will be traded at the market level, more than double compared to the previous year’s edition.
“Judging by the results we have had so far, there is no doubt that Black Friday has established itself as a benchmark event for e-commerce. And, although we knew that this year will be different, given the complex and complicated context, our predictions confirm the significant change in consumer behavior towards online card payment, reported by PayU in various communications “, says Elena Gheorghe, PayU Country Manager Romania.
On the other hand, the value of the shopping cart paid in installments will be 65% higher than the value of the average shopping cart. In addition, the one-click payment will represent approximately 50% of the transactions paid online for the entire day, compared to the rate of 34% recorded in the previous year.
Products that make online payment more comfortable have also contributed to the popularization of this method, along with education campaigns developed with merchants. New buyers have found that they can pay with a single click if they save their card on the merchant platform and also that they can get their money back within a maximum of 30 minutes after confirming the return, via Instant Money Back, a unique product in Europe .
“Black Friday continues to be the most important shopping event of the year, even if we witness an atypical context. However, when it comes to e-commerce and online shopping, this context has contributed to increased consumer confidence in online transactions and payments, which have proven to be more secure not only financially but also financially. individual and collective health. The most important confirmation for us comes from the fact that, in the last months, over 1 million new cards have been saved on the platforms of our merchants, so that the payment can be made with a single click ”, adds Elena Gheorghe.