Business

Nuvemshop: SMBs transacted BRL 10.8 million with e-commerce in the first 12 hours of Black Friday

By partial results, the amount is 13% higher than last year (BRL 9.6 million)

Photo: Nuvemshop/Courtesy
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  • Nuvemshop found that the average ticket went from BRL 217 on Black Friday last year to BRL 246 this year, an increase of 13%;
  • 47% of purchases were paid in 2 installments or more.

In the first 12 hours of Black Friday 2021, the e-commerces of SMEs (small and medium enterprises) registered on the LatAm’s Nuvemshop platform transacted BRL 10.8 million, 13% higher than last year (BRL 9.6 million). In total, more than 215,000 products have been sold, an increase of 14% compared to the same period in 2020. These partial results are based on the database of Nuvemshop, an e-commerce platform that currently serves 90,000 online shops in Latin America, mostly of small and medium entrepreneurs.

Nuvemshop found that the average ticket went from BRL 217 on Black Friday last year to BRL 246 this year, an increase of 13%. Unlike the 2020 edition, which had sales peak at midnight, Black Friday 2021 recorded the highest number of sales at 10 am – data from the first 12 hours of the event -, when there were 267 products sold per minute.

READ ALSO: A new fintech arises: Nuvemshop invests BRL 150 million in payment method for SMEs

“The data indicate that this year, Black Friday started earlier, with strong promotional actions (such as discounts, free shipping, and other benefits for customers) 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, SMBs had to bet heavily on Black Friday to boost sales at the end of the year,” says Alejandro Vázquez, CCO and co-founder of Nuvemshop, in a press release.

Among the top 5 categories that sold the most in the first hours are fashion (BRL 4.6 million), toy (BRL 652,000), electronic (BRL 619,000), health and beauty (BRL 562,000), and home & garden (BRL 474,000). In addition, preliminary results show that 73% of purchases were mobile and 27% of purchases were made on desktop.

Although the average shopping ticket is 13% higher, consumers are paying in installments: 47% of purchases were paid in 2 installments or more, while last year only 31% of purchases were in installments.

READ ALSO: LatAm’s answer to Shopify, Nuvemshop is valued at $3.1 bln after Series E round

“Although the sales expectation for the date this year is positive, we know that the current scenario, with high inflation, directly impacts Black Friday. In this sense, purchases end up weighing a little more on the consumer’s pocket and this is reflected in the choices made. In the form of payment, Brazilians are betting more on purchases in installments this year and the final value of the cart is slightly higher, a result of inflation and also betting 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 PIX as one of the bets on means of payment, especially for purchases of up to BRL 200 – so far, 9% of sales were paid via Pix, while sales by Brazil’s boletos were only 3%.

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