Black Friday is a tradition that began in the United States over a century ago and has spread to the rest of the world in the recent decades. The advent of the internet and e-commerce revolutionized this shopping event and, therefore, Black Friday has become a viral phenomenon – in fact, since 2013 to date, Black Friday has registered numbers never seen before:
- 663% world average sales increase, when compared to an ordinary day.
- 117% of average global growth of interest between 2013 and 2018.
- 624% average global sales boosting in comparison with a regular Friday.
In late November, shoppers worldwide take advantage of Black Friday’s many special offers, and Latin Americans are no exception. In LATAM, the consumers’ adhesion translates itself in a significant increase of online transactions when compared to a regular Friday.
As Black Friday is playing an important role in e-commerce turnover for almost every business, merchants must know some facts and figures about this shopping event in selected Latin American markets such as Brazil, Chile, Colombia, and Peru, so that they can plan well and reach successful sales revenues.
Brazil Is Leading the Way in LATAM Markets
Brazil is leading the Latin American region, and Black Friday is scooping consumers and revenues from other the traditional shopping dates, especially the Christmas season: as of August 2018, 95% of the Brazilian population was familiar with this shopping event which was responsible for 4.9% of the total of e-commerce revenues in 2018, which amounted to USD 63 million in sales [all currency conversion rates from R$ to USD on 10/21/2019].
Indeed, in 2018, during this shopping event sales increased an astonishing number of 819%, compared to an ordinary day. As it happens worldwide, this trend began a few years ago, and Brazil has experienced an increase of USD 28 million in 2014, USD 40 million in 2015, USD 46 million in 2016, and USD 51 million in 2017.
Regarding the consumers’ preferences in terms of Black Friday spending and devices used for shopping online, Brazilians preferred to use their desktop (51.1%) to purchase electronics, clothes, shoes, cosmetics and perfumes (respectively).
Chile, Colombia and Peru Brief Outlook
Following the footsteps of Brazil, Chile, Colombia, and Peru also present a surprising scenario, which starts with the penetration of Black Friday in these countries. Thus, and despite the influence of the local traditions, there are more consumers familiar with this shopping event: as of August 2018, 81% of the Colombian population is familiar with Black Friday, while 66% in Chile and 61% in Peru also know what this seasonal date is.
Black Friday is also impacting e-commerce in these countries:
Contrary to Brazilians, Chileans, Colombians, and Peruvians use their smartphones to shop online during Black Friday (71%, 57.2% and 57.3%, respectively) and prefer to buy clothes, electronics and shoes.
Address LATAM E-Commerce with a Local Expert
Although Black Friday is a worldwide shopping event that is being well accepted into Latin American culture, it remains the fact that LATAM is a fragmented region – different cultures and traditions, nuances of market regulation and challenges regarding international expansion, such as the importance of alternative payments taking into account the significant proportion of people that are currently unbanked.
A local expert such as BoaCompra is a key partner which will help international companies to understand the specific features and the main local payment methods of each Latin American market.