Consolidated as a significant date in Brazilian retail, Black Friday has shown significant growth in recent years. Set for November 29, this year’s edition already has notable numbers regarding buyers interested in purchasing products during the period.
A survey conducted by PiniOn showed that 39% of the survey participants intend to make purchases on the date, while a study promoted by Opinion Box in partnership with Dito revealed that 55% of consumers plan to purchase products during Black Friday, thus highlighting the significant potential of this occasion.
In addition, more and more brands have been preparing to offer promotions not only on this specific day but extending to cover the entire week or even the whole month with initiatives such as “Black Week” and “Black November”.
“Several companies are already looking at the date with a focus on providing improvements in the shopping experience,” comments Daniela Machado, Global Marketing and Products Director at C&M Software, a Brazilian multinational that offers technologies for the financial market and payment sector.
Black Friday not only represents a significant opportunity for consumers but also a strategic moment for retail, which can generate mutual benefits between companies and buyers.
Payments in e-commerce
One of the crucial factors for the success of e-commerce is the diversity and security of payment methods available to consumers. The choice of method can directly influence the purchase decision and user experience.
According to a survey conducted by Pagar.me in collaboration with E-commerce Brazil, 62% of merchants are adopting Pix as an incentive to offer more competitive prices. And the expectation is for an even more significant increase this year, solidifying Pix as a relevant strategy in promotional campaigns.
However, it is essential for e-commerce platforms to ensure the security of customer data, mitigating risks such as fraud and information leaks.
“Users feel more comfortable making their purchases when the site offers solutions that simplify their journey and increase security, especially with the reduction of screens and the elimination of the need to enter data outside the bank’s environment. By modernizing and adapting to technological advancements, e-commerce not only stands out in the competition but also boosts its revenue by reducing the cart abandonment rate,” comments Daniela.
According to the executive of C&M Software, retail faces intense price competition and must recognize the Brazilian consumer’s preference for Pix when making purchases. However, the solutions available on large marketplaces and general sales sites usually involve an extensive user journey, resulting in a preference for credit cards.
“This choice can harm retailers due to reduced earnings, waiting for receipt, and the risk of default. Therefore, it is essential to prioritize immediate reconciliation and speed in receipts, avoiding sharing profits with card issuers,” the executive emphasizes.
Payment methods are not just an operational component but a determining factor in the customer experience and consequently in the vitality of online business.
Improvements for the shopping experience
To enhance the customer’s journey regarding purchase completion, especially regarding the type of payment used, companies have been seeking ways to provide a better experience for their consumers. One of them is the use of platforms and tools that assist in the final stage of product acquisition, making it safer for users and preventing issues like cart abandonment for e-commerce.
And it was with this in mind that C&M Software executives developed Crystal, an innovative institution that offers products that allow integration with Open Finance. Crystal is a Payment Transaction Initiator (PTI) that streamlines the steps when paying for purchases made on e-commerce. The use of the tool allows the user to make the payment with fewer steps and without the need to enter data outside the banking environment, providing greater comfort during the transaction.
“When a site offers solutions that simplify the customer journey and increase security, user satisfaction increases. In addition to demonstrating modernity and attention to technological advancements, e-commerce stands out in competition by reducing the rate of abandoned carts, resulting in a significant increase in revenue, and Crystal can be a great ally”, emphasizes Daniela.
Cart abandonment
Cart abandonment is another challenging issue faced by contemporary e-commerce. Recent data indicates that, on average, 70% of customers who add products to the cart do not complete the purchase, resulting in significant losses for online merchants. And for this, Crystal can also be a great ally by ensuring a faster and secure checkout.
“Currently, being an extensive and complex process, in addition to being full of uncertainties regarding site security, cart bounce has increased to 82%, meaning that online retail is losing a significant amount of conversion”, comments the C&M Software executive.
The implementation of innovative solutions, such as Crystal, emerges as an effective response to the challenges faced by e-commerce businesses in preparation for Black Friday. Adopting technologies that streamline the customer journey becomes an essential competitive advantage, meeting the increasing demand for efficiency and security, and solidifying companies’ position in the e-commerce market.
