Revenue Optimization 1: Authorization rates, fraud and some things you should know about risk management
Extensive coverage of Black Friday 2015 tells us that it is declining in the US. But our global merchants tell a different story. For retailers across Europe, Asia and Latin America, Black Friday is alive and well!
Leading the way in Europe was Germany whose volumes during Black Friday / Cyber Monday grew by an incredible 170% from last year.
Sweden saw an increase of 30%. And in the UK, Black Friday and Cyber Monday merged into one non-stop sale weekend with cross-channel retailers running promotions both online and in-store.
In Asia sales volumes also increased by 170%, and for some international high-end retailers, Black Friday came in at a close second to Singles Day.
The data also revealed that shopper spend was on the rise. In China shoppers spent twice the amount compared to last year, and in Europe German and Swedish shoppers spent up to 20% more per transaction.
However the prize goes to Brazil, where shoppers increased their average spend by an amazing 300%.
The growing reach of US ecommerce giants like Amazon certainly contributed to the global spread of Black Friday / Cyber Monday. Keen to capitalize on this sale period across all territories, considerable investment was put into expanding Black Friday beyond the US.
Given the comparative ease with which ecommerce businesses can adapt to new trends, it is of little surprise that other retailers wanted in on the action. And we can expect this upwards trajectory to continue next year as more ecommerce retailers seize the opportunity.
So despite the gloomy post-mortem following Black Friday in the US, Adyen’s data paints a rather different picture. Black Friday / Cyber Monday is on the move, and more and more consumers will be starting their seasonal shopping at the end of November – whether they were Giving Thanks or not.
Adyen saw its global transaction volume increase by 50% during Black Friday / Cyber Monday, and its platform reached a whole new record in terms of processing volumes. All the while we maintained maximum stability and uptime. We look forward to continuing to scale in order to match the growth of our merchants in 2016 and beyond.
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