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Black Friday 2024: Record sales and changing consumer trends

E-Commerce Uptate
By E-Commerce Uptate

Black Friday, a relatively new commercial event in Brazil, held on the last Friday of November, quickly became an expressive date in Brazilian commerce. Celebrated about one month from Christmas, the date occupies today the second place in terms of e-commerce movement in the country, just behind Christmas. According to the Brazilian Association of Electronic Commerce (ABComm), the 2024 edition of the season of offers should move R$7.93 billion in e-commerce an increase of about 10% compared to last year. 

Unlike other important commercial dates, Black Friday entered the national calendar in a period of rapid growth of digital. Its emergence coincided with the expansion of online stores and marketplaces, the surge in popularity of social networks and the consolidation of streaming services. This context makes Black Friday a prime opportunity for innovation, audience expansion and sales leverage.To succeed, however, retailers must use competitive marketing strategies for the digital environment. 

 According to Tiago Cardoso, Managing Director for Latin America at Criteo, a commerce media company, the outlook for Black Friday 2024 is highly promising for retail. This optimism is underpinned by consumer economic and behavioral trends as well as the maturity of advanced digital marketing strategies such as retention and retargeting techniques, contextual targeting, predictive AI and retail media. 

To break through the competitive landscape of Black Friday 2024, retailers need to consider a few key factors to shape their strategies and drive sales.  

  • Check out these insights to devise the ideal strategy for Black Friday 2024: 
  1. Economic trends set the stage for increased spending 
    In August 2024, Brazil showed positive labor market trends over the same period of 2023: average income increased by 2.7%, the unemployment rate fell by 0.9 percentage points and the number of people employed increased by 2%. These improvements suggest that purchasing power is increasing. This is especially relevant for Black Friday, as consumers may be more inclined to try new brands and product categories. In 2023, for example, Criteo reported a 13 percentage point increase in new buyers in the second half of November 13 to (13131 PT)  
  2. Health and beauty on the rise as opposed to the drop in popularity of electronics  
    According to a Nielsen survey commissioned by Criteo, Brazilian consumers are more interested in the categories Fashion (clothes, footwear and accessories), Electronics (appliances, mobile phones and tablets) and Personal Care (cosmetics and hygiene) for Black Friday. Criteo also noted changes in spending in relation to the 2022 Black Friday season, with sales in the Health and Beauty segment rising 7.6%, while Consumer Electronics purchases fell 2.5%. 
  3. Consumer concerned about prices and driven by planning
    Black Friday in Brazil involves extensive consumer planning and low brand loyalty, resulting in the requirement to capture attention and achieve sales. Lower prices or attractive discounts are the main motivator for 78% of Brazilians, with 53% buying more on Black Friday than at other times of the year. Most consumers search and compare prices (62%), and a third (32%) reserves a specific budget for the event. Digital channels play an important role, with 64% of consumers accessing the internet for more than five hours daily and %. 
  4. Broadening the funnel: the success of complete funnel strategies 

    In a competitive landscape with an increasingly analytical consumer journey, a multi-channel strategy that integrates top and bottom-of-the-funnel tactics is essential. A Criteo survey in the Fashion segment revealed an 11-point increase in return on ad spend (ROAS) in November 2023 for brands that have reached top and bottom audiences (30%), compared to those that invest only in the funnel base (18%). For support, Criteo offers advanced technologies for customer acquisition, retention and retargeting, with cutting-edge, personalized and AI-powered strategies. 
E-Commerce Uptate
E-Commerce Uptatehttps://www.ecommerceupdate.org
E-Commerce Update is a benchmark company in the Brazilian market, specializing in producing and disseminating high-quality content on the e-commerce sector.
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Getnet reveals that Customer Week drives online sales with an increase of 13.94% The Customer Week campaign, which took place between September 5th and 11th, resulted in a 13.9% increase in online sales, according to data from Getnet. The payment processing company analyzed the behavior of more than 100,000 merchants on its platform and found that the average ticket increased by 3.7% compared to the same period in 2022. The most significant growth was observed in the South region, with a 17.6% increase in sales. The North region also showed a strong performance, with a 16.8% increase. The Southeast and Midwest regions had growth of 13.3% and 12.4%, respectively, while the Northeast region had the lowest growth, with an increase of 9.8%. "Customer Week is an important date for retailers, as it is an opportunity to attract customers and increase sales. The results show that the campaign was successful in stimulating consumption and that consumers are increasingly looking for online shopping," says Marcelo Labuto, CEO of Getnet. The data also reveals that the fashion segment was the most benefited by the campaign, with a 21.3% increase in sales. The electronics and household appliances segment also had a significant increase, with a 17.6% increase. "The fashion and electronics segments are traditionally the most sought after during promotional periods. The results show that this trend continues and that consumers are increasingly looking for discounts on these products," says Labuto. Getnet also observed an increase in the use of credit cards during Customer Week. The use of credit cards increased by 15.4% compared to the same period in 2022. "The increase in the use of credit cards shows that consumers are confident in the economy and are willing to make purchases on credit. This is positive for retailers, as it allows them to increase their sales," says Labuto. In summary, Customer Week was a successful campaign for online retailers, with a significant increase in sales and the average ticket. The fashion and electronics segments were the most benefited, and the use of credit cards increased. The results show that consumers are increasingly looking for online shopping and that promotional periods are an important opportunity for retailers to increase their sales.

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Inclusion and speed: the Brazil-Asia e-commerce revolution In recent years, Brazil has experienced a significant transformation in its e-commerce landscape, driven by a combination of factors including increased internet penetration, the rise of mobile technology, and a growing middle class with higher disposable income. This transformation has been further accelerated by the strengthening of trade relations between Brazil and Asia, particularly with China. **Inclusion: Bridging the Digital Divide** One of the most notable aspects of Brazil's e-commerce growth is the inclusion of previously underserved populations. Historically, Brazil has faced challenges with digital inequality, where certain regions and demographic groups had limited access to the internet and e-commerce platforms. However, initiatives by the government, private sector, and non-governmental organizations have worked to bridge this digital divide. Programs such as "Internet para Todos" (Internet for All) have aimed to expand broadband access across the country, particularly in rural and remote areas. Additionally, partnerships with tech companies have led to the development of affordable smartphones and payment solutions, making it easier for lower-income individuals to participate in the digital economy. **Speed: The Rapid Growth of E-commerce** The speed at which Brazil's e-commerce sector has grown is remarkable. According to data from the Brazilian E-commerce Association (ABComm), the sector has seen exponential growth over the past decade. In 2020, despite the challenges posed by the COVID-19 pandemic, e-commerce sales in Brazil reached a record high, with a significant increase in the number of online shoppers and the volume of transactions. This rapid growth can be attributed to several factors: 1. **Increased Internet Penetration**: With more Brazilians gaining access to the internet, the potential customer base for e-commerce has expanded significantly. 2. **Mobile Technology**: The widespread adoption of smartphones has played a crucial role in driving e-commerce growth. Mobile commerce (m-commerce) has become increasingly popular, allowing consumers to shop anytime, anywhere. 3. **Payment Solutions**: The introduction of various payment methods, including digital wallets, credit cards, and installment plans, has made online shopping more accessible and convenient for consumers. 4. **Logistics and Delivery**: Improvements in logistics and delivery services have enhanced the e-commerce experience. Companies have invested in technology and infrastructure to ensure faster and more reliable delivery, which is critical for customer satisfaction. **Brazil-Asia Trade Relations** The strengthening of trade relations between Brazil and Asia, especially with China, has had a profound impact on Brazil's e-commerce sector. China is not only a major source of imported goods for Brazil but also a significant investor in Brazilian technology and infrastructure. Chinese e-commerce giants like Alibaba and JD.com have expanded their operations into Brazil, bringing with them advanced technologies and business models. This has led to increased competition and innovation within the Brazilian e-commerce market. Additionally, Chinese investment in Brazilian logistics and technology has improved the overall efficiency of the e-commerce supply chain. **Conclusion** The inclusion and speed of Brazil's e-commerce revolution are reshaping the retail landscape in the country. By bridging the digital divide and leveraging the benefits of increased trade with Asia, Brazil is positioning itself as a major player in the global e-commerce market. As this trend continues, it is likely that we will see even more innovation and growth in the sector, benefiting both consumers and businesses alike.

Getnet reveals that Customer Week drives online sales with an increase of 13.94% The Customer Week campaign, which took place between September 5th and 11th, resulted in a 13.9% increase in online sales, according to data from Getnet. The payment processing company analyzed the behavior of more than 100,000 merchants on its platform and found that the average ticket increased by 3.7% compared to the same period in 2022. The most significant growth was observed in the South region, with a 17.6% increase in sales. The North region also showed a strong performance, with a 16.8% increase. The Southeast and Midwest regions had growth of 13.3% and 12.4%, respectively, while the Northeast region had the lowest growth, with an increase of 9.8%. "Customer Week is an important date for retailers, as it is an opportunity to attract customers and increase sales. The results show that the campaign was successful in stimulating consumption and that consumers are increasingly looking for online shopping," says Marcelo Labuto, CEO of Getnet. The data also reveals that the fashion segment was the most benefited by the campaign, with a 21.3% increase in sales. The electronics and household appliances segment also had a significant increase, with a 17.6% increase. "The fashion and electronics segments are traditionally the most sought after during promotional periods. The results show that this trend continues and that consumers are increasingly looking for discounts on these products," says Labuto. Getnet also observed an increase in the use of credit cards during Customer Week. The use of credit cards increased by 15.4% compared to the same period in 2022. "The increase in the use of credit cards shows that consumers are confident in the economy and are willing to make purchases on credit. This is positive for retailers, as it allows them to increase their sales," says Labuto. In summary, Customer Week was a successful campaign for online retailers, with a significant increase in sales and the average ticket. The fashion and electronics segments were the most benefited, and the use of credit cards increased. The results show that consumers are increasingly looking for online shopping and that promotional periods are an important opportunity for retailers to increase their sales.

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