Saturday , July 2 2022

Visa: Black Friday purchases double-digit growth in Latin America



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By Estrategiaynegocios.net

Visa Inc. has provided an analysis developed by Visa Consulting & Analytics (VCA), a strategic consulting field for Visa customers. This report reveals that the acquisitions in Black Friday and Cyber ​​Monday season are double-digit growth each year. Latin American countries and the Caribbean. For purchases on this season, e-commerce is becoming increasingly important for the Visa card holder in Latin America and the Caribbean. Comparing the 2017 consumption of the season with 2016, there is a 6% growth in virtual purchases.

The analysis showed that during November 2017 Black Friday period, purchases on Visa cards in the analyzed countries increased by 12% compared to the costs of Black Friday in 2016. On the other hand, purchases with Visa cards in Cyber ​​Monday 2017 showed a growth of 11% compared to the previous year. Among the countries showing the highest increase in Black Friday's consumption are Chile (59%), Colombia (22%) and Peru (21%). while The highest increase in consumption of cyber Monday was reflected in Chile (63%), Panama (35%) and Peru (16%).

The highest turnover categories in Black Friday 2017; stores, tools and gifts such as jewelry, clothing and toys. In Cyber ​​Monday 2017, there was an increase in book and electronic goods purchases.

"Visa's technology and experience enable us to offer our customer partners an analysis of consumer trends that help consumers renew and improve their payment experience every day and these days," said Visa's vice president, Javier Vázquez. Consulting & Analysis for Latin America and the Caribbean.
According to the analysis, Black Friday purchases in November 2017 represent 18% of total sales this month. More than 15% of the purchases made on that day were made through electronic commerce. Purchases of this season show that electronic commerce is still on the rise, while the last three years continue to be the main channel of consumption, which is 1.6 times higher than Cyber ​​Monday in Black Friday.

Javier Vázquez, "It is important for the Visa cardholder to have ease of purchase and payment and flexibility, regardless of the purchase process in a physical store or the Internet." Yöntem Since the method of payment is an important part of the purchase, these preferences reinforce the importance of providing innovative payment methods that enhance consumers' experience. “

Trends in the use of bank and credit cards in Black Friday
Consumption of Visa debit cards in Black Friday 2017 increased by 16% compared to 2016. In countries such as Chile, Panama and Peru, the increase in debt utilization increased by 40%, 35% and 19%. Respectively%.

For analyzed countries Average ticket 6% higher on purchases made with Visa credit cards in 2017 Black Friday The average ticket for the other months of the year. On black Friday, total sales volume was 69% higher than sales in the rest of November.

Visa's commitment is to continue working and innovation in payment methods. Thus, more Visa cardholders can make payments quickly, safely and conveniently, regardless of the channel they buy, whether they are in the physical store or online. .

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