An uncertain year
Black Friday was a success in Romania, but what about in other emerging markets?
It’s no secret by now that Covid-19 lockdowns have accelerated the growth of e-commerce in general, but going into Black Friday 2020, we weren’t quite sure what to expect from merchants across PayU’s key countries.
On the one hand, the economic downturn might discourage people from spending as much money this holiday season. On the other, it has been a very good year for many online sellers.
In the end, we saw the latter trend continue with significant Black Friday growth particularly across Eastern Europe and LatAm.
Black Friday in EMEA
In Poland, the largest economy among the former ‘Eastern bloc’ countries and PayU’s second-largest market globally, Black Friday saw a continuation of e-commerce growth for 2020, with 30% more transactions than Black Friday last year.
The Czech Republic, meanwhile, saw similar Black Friday success to Romania, with transactions up 73%. This continued a trend observed throughout the month of November on the PayU platform, with some days seeing double last year’s e-commerce turnover and transaction volumes up 72% for the month overall. For the entire “Black Week” leading up to and including Black Friday, online payments increased by more than 60 percent.
In Turkey, transactions were up by 30% overall with notable increases in the education sector (+62%) as well as in average cart size (+39%). On the busiest day of the year, PayU was proud to report 100% uptime across nearly 1.3 million total Turkish Black Friday transactions.
Africa saw more modest increases on Black Friday, with transaction volumes up 10% across PayU’s three main markets (Kenya, Nigeria, and South Africa). Our platform in South Africa registered a 14% increase in Black Friday sales on the back of a 9% increase over 2019 for the week leading up to Black Friday. In a sign of the ongoing development of mobile commerce in emerging markets, 60% of South African e-commerce transactions on Black Friday were done with a mobile phone.