Discover the keys to expand your business during Black Friday

Last 2017, the aggregate of Black Friday and CyberMonday resulted in orders for a total of 7 million euros, 32.8% more than the previous year.

With the summer holidays already forgotten and about to enter the Christmas campaign, it comes one of the days with more purchases of the year.

Black Friday is officially celebrated in Spain since 2012, coinciding with the fourth Friday in November. Last year, the sum of Black Friday and CyberMonday resulted in orders for a total of 7 million euros, 32.8% more than the previous year. The number of buyers on that day increased by 343% over the average of the previous month and the conversion rate was multiplied by two being the sectors with the highest sales recorded those related to fashion, electronics and travel.

Most Spanish companies have already joined this phenomenon originated in the United States in the mid-1980s, and some of them extend their promotions several days or even the hole week. The concept of Black Friday came up in Philadelphia in 1966, due to the collapse of the streets after Thanksgiving. This term was not popularized in the rest of the country until 1975, acquiring a new meaning, because at the beginning of Christmas shopping, merchants converted their numbers from red to black. For its part, CiberMonday takes place two days after Black Friday. It was created by companies to encourage online purchases and was named for the first time in 2005.

The Spanish ecommerce grew by 33% (over the previous year) in the first quarter of 2018, and it is expected that during next November 23 the numbers of 2017 will be exceeded by at least 17%. It is important to point out that only 36% of retailers in the country are considered omnichannel, a low figure if we take in account that in order to offer the best experience to the costumers it is advisable to connect with them through different channels, giving them the possibility of choosing how to acquire the products or services.

In order to create a multidirectional link and be prepared for the large number of online purchases that are planned for this Black Friday, it is important to have a proper payment process, not only in the traditional points of sale, but also in online platforms or mobile apps. There are payment gateways in the market that help achieve the objectives of businesses, offering them services that allow a 360º user experience, multiple payment methods and detailed information of their sales to make business decisions and personalize the process to the maximum for each user.

From Sipay, we tell you some of the keys to offer a unique payment for each buyer, quick, easy and secure:

  • Maximum security: increase the confidence of your customers by guaranteeing them the highest security in the transactions carried out in all your channels, complying with the highest international security standards as PCI DSS.
  • Multiple payment methods: Black Friday is celebrated internationally, and customers from the hole world access the web pages of purchase. That is one of the reasons why you should offer different payment methods, so that the user can choose how to pay, according to their purchasing habits, preferences, security transmitted or convenience by the time of payment.
  • FastPay: Immediate payment processes, carried out in just three steps, make the conversion rate of businesses increase, decreasing the abandonment rate produced by a slow process and a lot of data to be filled by the buyer.

José Luis Nevado, CEO of Sipay Plus, a company specialized in intelligent payment solutions, points out that “in a world where the customer is at the center of the strategy, it is essential to accept that all the costumers are different, so we should focus and quantify the value they provide, choosing a personalized management at the moment of the payment, offering 360º user experiences”.

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