MerchantPro: In 2023, Black Friday turned into Black Week. On Friday, sales remained stagnant, but weekly overall sales increased by 13.5%
The most significant increase occurred on Saturday, with +20% growth in the number of orders. - Beauty and Sport emerged as the standout segments, experiencing substantial increases during the Black Week
- The most significant increase occurred on Saturday, with +20% growth in the number of orders.
- Beauty and Sport emerged as the standout segments, experiencing substantial increases during the Black Week
The analysis conducted by MerchantPro on data collected from a representative sample of nearly 1000 local online stores using the SaaS eCommerce solutions platform reveals that Black Friday has evolved into an entire week of discounts and promotions in Romania. This shift has led to the distribution of sales throughout the entire week, but overall has resulted in more orders compared to 2022. Consequently, there was a plateau in sales on the traditional Black Friday (November 10th), both in terms of transaction volume and their total value.
Throughout the entire week, from Tuesday to Monday (November 7th-13th), sales increased by 13.5%, and the number of orders placed grew by 10%. The standout day, in comparison to Black Week 2022, was Saturday, November 11th, with a remarkable +20% increase in transaction volume and +36% from a value perspective.
This year's purchasing behavior has changed, as a result of the extension of discount periods both before and after Black Friday, towards the weekend and Cyber Monday. In terms of overall performance, Black Week recorded a 10% increase in the total number of transactions compared to the Black Friday week of the previous year. Revenues have surged by 13.5%, indicating a robust growth in consumer spending. The interesting phenomenon is that the extended discount period provided customers with the opportunity to scrutinize offers in more detail, ultimately choosing to spend more. This signals that we now have a more mature and rational shopper who no longer makes impulsive purchases - said Arthur Rădulescu (in opening picture), CEO ofMerchantPro, a SaaS eCommerce platform serving over 2000 active local stores.
Black Friday is transforming
Although Friday, traditionally associated with Black Friday, experienced a stagnation in the number of orders, the days of Thursday, Saturday, Sunday, and Monday showed significant recovery, with year-on-year transaction increases ranging from 11% to 20%. This suggests that consumers have adapted to the new format, spreading their purchases throughout the entire week.
Hourly analysis for Friday, November 10th, highlights that although fewer orders were placed in the first part of the day compared to the previous year, the afternoon brought recovery. The most significant increases were recorded between 6:00 PM - 7:00 PM (+27%) and 7:00 PM - 8:00 PM (+23%).
