Black Friday: payment methods should be a priority to ensure conversion

Consolidated as a relevant date in Brazilian retail, Black Friday has shown significant growth in recent years. Marked for November 29, this year's edition already presents remarkable numbers in relation to buyers interested in acquiring products during the period.

A survey carried out by PiniOn it demonstrated that 39% of the survey participants are intent on shopping on 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 considerable potential of this occasion.

In addition, more and more brands have been preparing to offer promotions not only on that specific day, but expanding to cover the full week or even the entire 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 Director of Marketing and Products C&M Software, Brazilian multinational that offers technologies for the financial market and the means of 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 businesses and buyers.

Payments in e-commerce

One of the crucial factors for the success of e-commerce is the diversity and security of the means of payment 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 Brazil, 62% of merchants are adopting Pix as an attraction to present 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 ensure the security of customer data, mitigating risks such as fraud and information leaks.

“The user feels more comfortable to make 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 environment. By modernizing and adapting to technological developments, e-commerce not only stands out in the competition, but also boosts its billing by reducing the abandonment rate of” carts, comments Daniela.

Still according to the executive of C&M Software, retail faces intense price competition and must recognize the preference of the Brazilian consumer for Pix when making purchases. However, the solutions available in large marketplaces and sales sites usually have an extensive user journey, resulting in a preference for credit card.

“This choice can harm retailers due to the reduction of earnings, waiting for receipt and the risk of default. Therefore, it is essential that there is a prioritization of immediate reconciliation and agility in receipts, avoiding the division of profits with the flags of” cards, highlights the executive.

Payment methods are not only 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 of customers in relation to the completion of purchases, especially with regard to the type of payment used, companies have sought ways to provide a better experience to 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 C&M Software executives developed Crystal, an innovative institution that offers products that allow integration with Open Finance. Crystal is a Payment Transaction Initiator (ITP) 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, which provides 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 in the competition by reducing the rate of abandoned carts, resulting in a significant increase in billing 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 the cart do not complete the purchase, resulting in significant losses for virtual merchants.And for this, Crystal can also be a great ally by ensuring a faster and safer checkout.

“Currently, being an extensive and complex process, besides being full of uncertainties in the security of the site, the bounce in the cart has risen to 82%, that is, the electronic retail has been losing a significant amount of” conversion, comments the executive of C&M Software.

The implementation of innovative solutions such as Crystal emerges as an effective response to the difficulties of e-commerce in preparing for Black Friday.The adoption of technologies that optimize the customer journey becomes an essential competitive differential, meeting the growing demand for efficiency and security and solidifying the position of companies in the e-commerce market.