Mollie reveals 51% increase in BNPL usage on Black Friday

Thursday 2 December 2021 12:36 CET | News

Netherlands-based payment service provider Mollie has shown an increase in popularity for Buy Now, Pay Later usage on Black Friday, Cyber Week, and Cyber Monday.

The analysis spans tens of thousands of merchants across Europe, primarily from Germany, UK, France, the Netherlands, and Belgium. Black Friday, Cyber Week, and Cyber Monday trends for payment methods and merchants have evolved such as:

  • Payment by BNPL methods increased by 51% for online purchases in 2021;

  • SMEs across Europe experienced a 102% increase in the overall volume of transactions on Black Friday vs the Friday prior;

  • For Cyber Monday, there was an increase of 16% in the overall volume of transactions;

  • In Germany, the key shopping period on Black Friday was 11:00-12:00, in France 19:00-20:00, the Netherlands 13:00-14:00, and in Belgium 16:00-17:00;

  • Black Friday contributed 21% of the transaction volume of Cyber Week, excluding Cyber Monday.

Mollie has further revealed the category in which consumers spent the most:
  • Average transaction volumes increased in clothing, shoes and accessories, home electronics and sporting goods categories;

  • Sporting goods was the ‘star’ of this year’s Black Friday, experiencing eight times the average transaction value increase of clothing, shoes, and accessories;

  • Clothing, shoes, and accessories merchants performed well across Cyber Week and Black Friday, but Cyber Monday proved the strongest day within the period.

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Keywords: BNPL, Mollie, data, payment methods, Black Friday, online payments, ecommerce
Categories: Payments & Commerce
Countries: Netherlands
This article is part of category

Payments & Commerce