News

LATAM ecommerce expects growth on Black Friday 2017

Tuesday 7 November 2017 14:06 CET | News

Black Friday is expected to generate more than USD 700 million only in Brazil in 2017, in a diverse LATAM discount approach, according to Ebanx`s latest guide.

Almost 140 million people are expected to shop online until the end of this year in LATAM, spending around USD 60 billion, according to Statista. The Black Friday discounts are responsible for a major part of driving these purchasing decisions.

The Ultimate Guide to Black Friday Latin America, made in a partnership with the Brazilian ecommerce platform VTex provides information about the names and dates of “Black Friday” promotions in these countries, which differ from the US discount season. For instance, despite Black Friday in Brazil being on the same day as in the US, in Brazil the discounts associated with this campaign usually start before the actual day, turning into a so-called Black Week.

Mexico does not follow the US shopping sales calendar for the month of November either. The top sales date in this Latin American country has a different name, El Buen Fin (The Good Weekend), and takes place over the course of four days (this year from November 17th to 20th).

The region is confronting with a high percentage of unbanked population (49% of the adult population). In this context, cash payment methods allow those that do not have access to a bank account to buy from international ecommerce. For instance, all Brazilians pay their utility bills with the boleto bancário, a Brazilian cash payment method.

When it comes to local credit cards, installments are also relevant. For instance, according to a research study conducted by E-bit in Brazil, 67% of those who intend to buy cellphones and smartphones on Black Friday this year using local credit cards will pay with installments. Among shoppers who will buy clothes and fashion accessories using credit cards, 50% will opt to pay with installments. This payment method is a very common practice in Brazil, and it is an additional payment option offered by many brick-and-mortar stores and domestic online merchants.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: LATAM, ecommerce, Black Friday, Ebanx, merchant, payment methods, installments
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce


Related

Cegedim becomes PEPPOL network Access Point

Published 12 Dec 2017 10:44 CET | World
Cegedim e-business has joined the PEPPOL (Pan-European Public Procurement Online) network of EU public sector buyers, which is currently in eight European countries....