Most expensive transaction on Black Friday was over R10m
JOHANNESBURG - Black Friday and Cyber Monday continues to be a hit in South Africa with both days exceeding expectations.
“Black Friday did not disappoint. Despite the tougher economy, it seems South Africans took advantage of the day’s special deals with in-store and online transaction volumes reflecting strong year-on-year growth. Both days have certainly made their mark amongst local retailers and shoppers,” Solly Bellingan, Head of Customer Relations at BankservAfrica said.
South Africans shopped up a storm with the total number of Black Friday transactions processed by BankservAfrica (in-store and online) at 7 077117 in 2019 – 36% up from 2018’s 5 204 594. This translates into a total spend of R6 billion, an impressive 106% increase on 2018’s R2.9 billion.
When compared to 2018, it seems bargain hunters decided to get the best deals early with a 33% year-on-year increase in sales at midnight.
The 12-hour period between 06:00 and 18:00 proved to be busiest with similar volumes being processed each hour. The the highest number of transactions processed in a 60-minute period was between 10:00 and 11:00 at a volume of 595 792.
How did Cyber Monday compare?
“3D-Secure, our online card authentication service (i.e. transactions that require a one-time pin), showed steady growth this year with a 32% year-on-year increase on Black Friday and transaction volumes reaching a total of 534 828,” said Bellingan.
The busiest shopping times were between 09:00 – 10:00 in 2019 compared to the earlier start in 2018 at 08:00 – 09:00.
The most expensive online transaction recorded on Black Friday was for a hospitality purchase of R 10 067 400 by an international company.
The most uses by one card was 83.
"During peak, we processed 717 transactions while the average was 371 per minute for the day."
Cyber Monday was less active than Black Friday with a 42% growth in online transactions that reached a volume of 249 908 in 2019 (up from 176 595 in 2018).
In both years, most of the transactions took place between 10:00 – 11:00 with the most expensive being R1 997 800 and 151 uses by one card. The highest average transactions per minute was 322 at peak and 173 per minute for the day.
“This year’s Black Friday and Cyber Monday data mirrors the global data of record-breaking sales – and the BankservAfrica featured figures are only a portion of the entire sales figures for both days. It will be interesting to see if these manage to outpace festive season spend this year,” Bellingan further said.
BUSINESS REPORT ONLINE