Black Friday 2022 brought moderate increases compared to last year, a sign that the public is adopting a prudent consumption behaviour and is increasingly renouncing impulsive purchases. Therefore, the analysis carried out by MerchantPro – the Saas solution platform for e-Commerce – on the data recorded by over 1500 local online stores show an increase of 8.5% in the number of orders and 12.5% in their value, in between November 11-14, compared to the equivalent period of the previous year (November 12-15).
Less than 20% of the online stores preferred to limit the promotion period to a single day, but most extended the campaign period to the entire weekend and Monday. On a day-to-day basis, the biggest increases in the number of orders compared to last year were recorded on Friday, even Black Friday, with +10%. From a value perspective, the increase on Friday was only 7.3% compared to last year. More spectacular increases in the value of orders were recorded on Cyber Monday, by +23%, in the conditions of a number of orders only 8% higher than in 2021.
At market level, moderate increases were recorded, which shows the adoption of a more mature, more balanced and much less impulsive consumption behaviour. Once again, Cyber Monday comes with pleasant surprises, being the day that significantly influences the figures of the period and which is generally dedicated to higher value purchases, especially in the area of IT, home & decoration, household appliances and services“, says Arthur Radulescu, CEO of MerchantPro .
In the analysed period, the average value of the order increased slightly compared to last year, to 56 euros per transaction, compared to 53 in 2021. The highest average per transaction was recorded on Monday – 60 euros.
Black Friday remains the most important event for the entire e-Commerce industry, from online stores to consumers and solution providers. After two years of spectacular growth and in a new socio-economic context, after this year’s edition two important directions emerge: the extension of the deployment period from the desire to capture as much of the purchasing power as possible and the consolidation of the market, if we report to performance and consumer behaviour”, adds Arthur Radulescu.
The most dynamic product categories
The product segments in the top of Romanian consumers remain those in fashion (clothing and shoes), home & deco, beauty, sports items and children’s items. Most categories registered increases in value after Black Friday itself – on the second day of the weekend (November 13) and on Monday, Cyber Monday, a sign that many consumers analysed and compared the available offers before making a purchase decision
A segment with tradition, fashion items (clothing, shoes and accessories) registered increases of over 15% in value and 10% in volume, compared to the previous edition. The biggest evolution was registered on Sunday (November 13), when the value increase reached 20%.
The Home & Deco segment was a star of the pandemic, when investments were made in furniture and decorations for the home. This year, Romanians are still eager to invest in personal comfort, but at a more moderate level. Thus, the segment of home & deco products registered a spectacular increase on Cyber Monday, with an increase of 75% in the number of orders and 54% in value. At the level of the analysed period, the segment recorded a value increase of 9%, after a 10% decrease on Black Friday itself. The average value per transaction was 130 euros, 20% lower than previous year.
More online payments and a maintained dynamic
Black Friday 2022 also brought some interesting surprises for the e-Commerce market. MerchantPro’s analysis shows a 31% increase in online payments on Black Friday and 20% over the period, a sign of increased consumer confidence in the online stores they choose.
“For the end of the year, we estimate a similar dynamic of the volumes sold by online retailers, and those who know how to optimize their stocks, budgets and campaigns for as long as possible will emerge winners. It is a trend that we estimate will continue in 2023, considering the predictions at the level of incomes and inflation, along with economic instability. Another trend that is taking shape is the growing emphasis placed simultaneously on optimizing processes, reducing operating costs and increasing productivity, respectively on the user experience, including at the level of payment and delivery options”, adds Arthur Radulescu.
The MerchantPro analysis takes into account consolidated data from over 1500 local stores that use the MerchantPro eCommerce platform, for the period 11-14 November 2022, covering Black Friday, weekends and Cyber Monday, compared to the similar period (12-15 November) from 2021.
MerchantPro is a project of the ShopMania Net company, which addresses eCommerce entrepreneurs from Romania and Europe, through ecommerce functionalities, support services and customized solutions, adapted to specific development needs.