Black Friday is traditionally the day after Thanksgiving, which historically starts the Christmas shopping season. This American holiday has spread around the world in recent years, and Latin America is no exception. As a complement to this massive discount date, there is also Cyber Monday, which, like Black Friday, is an event dedicated solely to online shopping.
Black Friday took place on Friday, November 27, 2020, in the middle of a challenging year that has been marked by accelerated digital transformations. Days like these work as incentives to promote economic reactivation after the impact caused by the COVID-19 in the world. In this context, online sales have become a fundamental tool for small and large businesses looking for a secure sales channel adapted to the new normal.
For years, Black Friday and Cyber Monday have been the dates where at PayU, we have registered high growth in digital transaction processing in the region. This time we reported excellent numbers; we managed to process 910 thousand approved transactions that, compared to the previous year, represent a growth of 52%; these transactions represent 49 million USD, and that compared to the average of November sales on the day increased 127%.
Black Friday's results support the rapid digital adoption and the changes in habits of the Latin American consumer after the health emergency, which has generated historical growth in categories that had a low presence in digital. On the other hand, we detected the arising of sectors negatively impacted, such as tourism and entertainment.
From PayU, we want to contribute to the continuity of thousands of businesses in the region and recognize the effort of more than 17,000 firms that managed to make sales in the order of 49 million USD, which, compared to Black Friday 2019, represents a growth of 36%.