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Visa Inc. presented an analysis developed by Visa Consulting & Analytics (VCA), a strategic consulting area for Visa customers, which shows that Black Friday and Cyber Monday purchases have shown double-digit growth year after year. countries of Latin America and the Caribbean. In shopping related to this station, e-commerce is becoming increasingly important for the Visa card holder in Latin America and the Caribbean. When comparing the consumptions of the season made in 2017 with those of 2016, there is a 6% growth in virtual purchases.
The analysis showed that during the black Friday of November 2017, Visa purchases in the countries analyzed increased by 12% compared to the consumption of Black Friday in 2016. On the other hand, purchases with Visa cards were made in Cyber Monday 2017, showed an increase of 11% over the previous year. Among the countries showing the highest growth in Black Friday's consumption are Chile (59%), Colombia (22%) and Peru (21%). While Cyber Monday's highest consumption growth was reflected in Chile (63%), Panama (35%) and Peru (16%).
During Black Friday 2017, the highest turnover categories were department stores, appliances, and gifts, such as jewelry, clothing, and toys. In Cyber Monday 2017, there was an increase in the purchase of books and electronic items.
"Visa's technology and experience enable us to deliver consumer trend analysis to our partner customers that help them innovate and improve the consumer payment experience during these and every day of the year," said Javier Vázquez, vice president of Visa. Consulting and analysis for Latin America and the Caribbean.
According to the analysis made, Black Friday's purchases in November 2017 accounted for 18% of total sales during that month. Of the purchases made that day, more than 15% were made through e-commerce. Shopping this season shows that while e-commerce is still on the rise, the physical channel remains the main channel, with consumption during Black Friday in the last three years, on average 1.6 times higher than Cyber Monday .
"For the Visa card holder, it is essential to have the ease and flexibility to buy and pay regardless of whether you buy from a physical store or online," said Javier Vázquez. "As the payment method is an essential part of the moment of purchase, these preferences reinforce the importance of offering the consumer innovative payment methods that enhance their entire experience," he continued.
Trends in the use of debit and credit cards on Black Friday
During Black Friday 2017, consumption with Visa debit cards increased by 16% compared to 2016. In countries such as Chile, Panama and Peru, the increase in the use of debt was even greater, with 40%, 35% and 19%, respectively. respectively.
For the countries analyzed, the average ticket for purchases made with Visa credit cards on Black Friday of 2017 was 6% higher than the average ticket for the other months of the year. It was also noted that the total sales volume is 69% higher on Black Friday when compared to sales for the remainder of November.
Visa's commitment is to continue working and innovating on its payment methods so that more and more Visa cardholders can make their payments quickly, safely and conveniently, regardless of the chosen purchase channel, whether in a physical store or on- line. .