In the retail segment‚ Black Friday average transaction values increased by 10.2% compared to last year. Across four of the five main areas of retail‚ average values also increased. Home electronics transaction values jumped by 37%‚ sporting goods by 19%‚ home furnishings and apparel increased slightly (6% and 2% respectively). The average transaction value for beauty products was down 7% compared to 2021.
“The macro economic situation in Europe created a decline in ecommerce transaction volumes earlier this year. But during the days leading up to Black Friday it became clear that spend levels were significantly higher than we and the market had anticipated - especially in home electronics. A 14.5% increase in sales volume on Black Friday‚ and 13.5% over the whole week is phenomenal and something retailers should be proud of‚” said Ken Serdons‚ CCO‚ Mollie. “Black Friday is a critical guide for the coming Christmas shopping period. While we can perhaps be slightly more optimistic than we had been‚ it's clear that some sectors - in particular clothing and beauty - will struggle. Those small and medium-sized merchants that want to grow over the next year will have to fight for every sale‚ perfect their checkout experience and make sure they can meet the growing expectations of consumers for local payment methods‚ fast delivery and free returns.”
