Black Friday 2023 Consumer Panorama Study found that 50% of customers are expected to spend more this year than in 2022
Black Friday will take place on November 24th, one of the most important dates for the market and, this year, the Black Friday 2023 Consumer Panorama study, carried out by Mercado Pago with e-commerce and digital banking customers, pointed out that 50% of consumers are willing to spend more than in 2022.
The survey, which interviewed around 8 thousand users between the 18th and 22nd of September, showed that among the three categories most searched for by Brazilians for this year’s date are Appliances, Electronics and Cell Phones, followed by Fashion and Home&Decoration.
We saw that more than 65% of our consumers have already started looking for prices and products to buy on that date, which points to an increasingly present trend of anticipation. Therefore, we are working in an ecosystemic way to encourage entrepreneurs to sell more, as we improve the consumer experience on our platform, said Julia Rueff, Vice President of Marketplace at Mercado Livre.
A fact raised by the report is that optimization has been highlighted as a key attribute at the time of purchase and, as a result, free shipping is an attractive point for 75% of people, with 1 in 3 consumers seeing fast delivery as a factor decisive at the time of purchase.
The survey also showed how consumers are planning to pay for their purchases and showed that more Brazilians want to pay in cash. Despite this, the credit card remains the preferred payment method for 69% of consumers, followed by Pix (17%), debit card (7%) and other methods (7%).
According to the study, the possibility of paying in installments is what justifies the high rate on cards, but other installment methods are gaining importance, such as credit offered directly by Mercado Pago (jump from 12.5% in 2022 to 32.5% in 2023) and Pix Installments.
“We identified a growth of 3 percentage points in the volume of customers who intend to pay for their purchases in cash (18%) this year, while in 2022 this volume was 15%. Even with this increase, the vast majority (67%) intend to pay in installments up to 6x, which proves better financial planning for purchasing items with a higher average ticket, but without losing sight of the installments, explained Daniel Davano, Country Head of Payments for Companies at Mercado Pago.
At the same time that consumers indicate that they expect to buy more this year, the study showed that the average ticket per order should be similar to what they spent in 2022, especially at the lowest values.
According to those interviewed, 33% intend to spend up to R$500 (2 pp higher than in 2022), 24% expect to have an average ticket between R$500 and R$1,000 (similar to last year), 20% between R$1,000 and R$2,000 (23% in 2022) and 23% say they intend to spend more than R$2,000 (20% in 2022).
