Business

Nuvemshop: SMBs boost e-commerce revenues by 30% on Brazil's Black Friday

According to Nuvemshop, Black Friday 2021 recorded the highest number of sales at 10am

Photo: Nuvemshop/Courtesy
Ler em português
  • PIX was the payment option for 8% of online sales by SMEs;
  • Sales by boleto (Brazil’s banking slips) were only 5% and debit card accounted for only 0.5% of SME transactions.

The SMEs (small and medium enterprises) in Brazil have invoiced BRL 74.7 million this Black Friday, 30% higher than the amount recorded in the same period last year (BRL 57.7 million). These results are based on the database of Nuvemshop, which serves more than 90,000 online shops in the region, mostly small and medium entrepreneurs.

In total, from Thursday to Sunday, SMBs sold more than 1.25 million products, an amount 20% higher than the volume of the same period last year. Moreover, unlike the 2020 edition, which had the peak sales at midnight, Black Friday 2021 recorded the highest number of sales at 10 am. The Brazilian states that recorded the highest billings on Black Friday 2021 were: São Paulo (BRL 40.6 million), Minas Gerais (BRL 7.8 million), Rio de Janeiro (BRL 4.9 million), Santa Catarina (BRL 3.2 million) and Paraná (BRL 3.04 million).

READ ALSO: Mercado Libre leads the charge as e-commerce blooms in Latin America: Beyond Borders 2021/2022 study

Despite the significant growth in virtual sales of small and medium entrepreneurs this year, the comparison between the total data of last year’s Black Friday and the figures of this edition brings results that corroborate a new scenario of Brazilian digital commerce. Nuvemshop found that the average ticket went from R$ 212 to R$ 236, an increase of 12%. This variation is higher than inflation, which is on the rise.

“The results of this year’s Black Friday indicate that, despite the current economic scenario, small and medium entrepreneurs managed to grow above the market. For these companies, we know that the date is of great importance for year-end billing and maintaining the performance of online shops in the period. Therefore, we observed that Black Friday 2021 started earlier, with strong promotional actions since the first week of the month. The strategy reflects the market conjuncture: the economy stopped growing at the pace it was at the beginning of the year and, because of that, SMEs had to bet heavily on the month of November to boost sales and attract and retain customers, already thinking about Christmas and the holidays,” says Alejandro Vázquez, CCO and co-founder of Nuvemshop.

READ ALSO: Sea’s Shopee leads Black Friday sales in Brazil: Magis5

Consumers also took advantage of the date to advance the purchase of some gifts for Christmas. The Nuvemshop survey shows that “Toys” was the fourth best-selling segment of SMEs in e-commerce this year, with sales of R$2.5 million. The segment was not even among the Top 5 categories of Black Friday 2020, which indicates a new consumer behavior, who took advantage of more attractive prices to anticipate gifts. Thus, the categories that earned the most revenue this year, in descending order, were: Fashion (R$35.2 million), Health & Beauty (R$4.9 million), Home & Garden (R$3.1 million), Toys (R$2.5 million) and Electronics (R$2.4 million).

Payment methods and logistics

The payment method offered by e-commerces also portrays the economic situation of Brazilians this year. Although the average purchase ticket is 12% higher, consumers paid in installments: 47% of purchases were paid in 2 installments or more, while last year only 31% of purchases were not cash. Consequently, the most used means of payment in this edition was the credit card, responsible for more than half of the transactions of SMEs in e-commerce.

“Given the current scenario, with high inflation, it is natural that purchases end up weighing a little more on the consumer’s pocket. This is reflected in the choices made, especially in relation to payment. Brazilians have resorted to shopping in installments this year and the final value of the cart was slightly higher, a result of inflation and also the bet on Black Friday shopping to take advantage of discounts, “explains Guilherme Pedroso, country manager of Nuvemshop in Brazil.

Another novelty of this edition is the Brazilian instant payment system PIX as one of the bets on means of payment, especially for purchases of up to $ 200. This year, there was a good adoption of the Pix, which was the payment option of 8% of online sales of SMEs, while sales by Brazil’s banking slips boleto were only 5% and debit card was responsible for only 0.5% of transactions.

According to Nuvemshop, 70% of orders were shipped by logistics apps, while only 30% of orders were shipped by Brazil’s postal service Correios.

Get the best insights about Latin America market in your inbox