Black Friday discounts increased e-commerce revenues of SMEs 6-fold

Black Friday discounts increased e-commerce revenues of SMEs 6-fold
03 December 2019

The November 11.11 Singles Day and Black Friday discounts made both the producers and the consumers happy. The number of products sold by SMEs through e-commerce increased by 176 percent on November 11, while Black Friday discounts exceeded 350 percent. While November was the busiest month in e-commerce, turnover increased 6-fold compared to the average of the year.

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ISTANBUL (TR) - In November, “11.11 Singles Day” and “Black Friday” discounts heated up the e-commerce sector. Thanks to the discounts, e-commerce sites, which attracted great interest from consumers, had difficulty in keeping up with the demands from time to time. According to the data of 7,500 e-commerce sites served by IdeaSoft, the e-commerce infrastructure provider, the number of orders increased 6 times in the Black Friday discounts, which were combined with Cyber ​​Monday, while the turnover increased by 5 times. Increases in revenue through discount campaigns brought comfort to the economy, especially while relieving SMEs.

Shopping cart average dropped to 277 TL, real discounts applied

The discount days in November benefited not only the producers and sellers but also the consumers. While the highest discount was seen in clothing, cosmetics, food, jewelry, and stationery were the other categories with the highest discounts. Seyhun Özkara, CEO of IdeaSoft, said “SMEs have an average of 360 TL cart average throughout the year. Firstly, the cart average decreased to 320 TL in 11.11 discounts, while the average discount on the Black Friday and Cyber ​​Monday was 277 TL. The decrease in the basket average for SMEs may be interpreted negatively, but the commercial volume generated by the discounts subsidized the decline in the basket amount quite well. We have left behind a very nice month for both producers, sellers, and consumers in commercial terms.”

“Paying at the door is very important to provide confidence”

73.9 percent of payments made for e-commerce sites in November, credit card, 21.3 percent of the payment at the door and 4.8 percent of the transfer took place. Seyhun Özkara reminded that there are consumers who want to continue the payment process despite shopping on the internet according to the old method, “A segment of the consumer does not pay without taking the product and therefore uses the payment option at the door. Another group of consumers who prefer payment at the door does not have the habit of e-commerce. However, after gaining confidence in e-commerce, we see that payment at the door is replaced by a credit card. At this point, in order for consumers to get used to e-commerce, e-commerce sites need to offer consumers an alternative in terms of payment method ”.

Mostly sold cosmetics, textiles and mother-baby products

In Black Friday discounts, consumers were mostly in favor of cosmetic products. Seyhun Özkara underlined that the e-commerce discounts after the increase in the price of cosmetic products in the stores attract consumers. “Consumers are waiting for special discount days to buy the product they want. In particular, the sales figures for cosmetic products have seen a significant increase, while the second is textile and the third is the mother's baby products, which include diapers and foods. In addition, according to the information given by IdeaSoft Black Friday discounts, most orders were given between 09:00 - 12:00.”

Contact: Tülay Genç | [email protected] | +90 (850) 885 12 55