Established as a significant date in Brazilian retail, Black Friday has shown remarkable growth in recent years. Scheduled for November 29th, this year's edition already shows remarkable numbers regarding interested buyers purchasing products during the period.
A survey carried out byPiniOndemonstrated that 39% of survey participants intend to make purchases on the date, while a study carried out byOpinion Boxin partnership with Dito revealed that 55% of consumers plan to purchase products during Black Friday, therefore highlighting the considerable potential of this occasion.
Furthermore, more and more brands have been preparing to offer promotions not only on that specific day, but expanding to cover the entire week or even the entire month with initiatives such as “Black Week” and “Black November”.
“Several companies are already looking to the date with a focus on providing improvements in the shopping experience,” comments Daniela Machado, Global Director of Marketing and Products.C&M Software, a Brazilian multinational that offers technologies for the financial market and payment methods sector.
Black Friday not only represents a significant opportunity for consumers, but also a strategic moment for retailers, which can generate mutual benefits between companies and shoppers.
Payments in e-commerce
One of the crucial factors for the success of e-commerce is the diversity and security of the payment methods available to consumers. The choice of method can directly influence the purchase decision and the user experience.
According to a survey conducted by Pagar.me in collaboration with E-commerce Brasil, 62% of merchants are adopting Pix as an incentive to offer more competitive prices. And the expectation is that there will be an even more significant increase this year, solidifying Pix as a relevant strategy in promotional campaigns.
However, it is essential that e-commerce platforms guarantee the security of customer data, mitigating risks such as fraud and information leaks.
“Users feel more comfortable making purchases when the website offers solutions that simplify their journey and increase security, especially by reducing the number of screens and eliminating the need to enter data outside of the bank environment. By modernizing and adapting to technological developments, e-commerce not only stands out from the competition, but also boosts its revenue by reducing the cart abandonment rate,” says Daniela.
According to the C&M Software executive, 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 sales websites generally have a lengthy user journey, resulting in a preference for credit cards.
“This choice can harm retailers due to reduced profits, waiting for payment and the risk of default. Therefore, it is essential to prioritize immediate reconciliation and agility in payments, avoiding sharing profits with card brands,” highlights the executive.
Payment methods are not just an operational component, but a determining factor in the customer experience and, consequently, in the vitality of the online business.
Improvements to the shopping experience
To improve the step-by-step process for customers when finalizing purchases, especially with regard to the type of payment used, companies have been looking for ways to provide a better experience for their consumers and 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 avoiding issues such as cart abandonment for e-commerce.
And it was with this in mind that the executives of C&M Software developed Crystal, an innovative institution that offers products enabling integration with Open Finance. A Crystal is a Payment Transaction Initiator (PTI) that shortens the steps when paying for purchases made in 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 website offers solutions that simplify the customer journey and increase security, user satisfaction increases. In addition to demonstrating modernity and attention to technological developments, e-commerce stands out from the competition by reducing the rate of abandoned carts, resulting in a significant increase in revenue, and Crystal can be a great ally,” highlights Daniela.
Cart abandonment
Cart abandonment is another challenging issue faced by contemporary e-commerce. Recent data indicates that, on average, 70% of consumers who add products to their cart do not complete the purchase, resulting in significant losses for online merchants. And for that, Crystal can also be a great ally by ensuring a faster and safer finish.
“Currently, being an extensive and complex process, in addition to being full of uncertainties regarding website security, cart bounce has risen to 82%, meaning that e-retail has been losing a significant amount of conversions,” 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 in preparing for Black Friday. The adoption of technologies that optimize the customer journey becomes an essential competitive differentiator, meeting the growing demand for efficiency and security and solidifying companies' positions in the e-commerce market.
