More digital than ever, the numbers of Black Friday 2020 edition in Brazil are impressive: according to Ebit | Nielsen, ecommerce revenue reached BRL 4.02 billion on the most important day for retail, representing a 25.1% growth when compared to 2019. More than 6 million orders were generated, with an average ticket price of BRL 652.
Overview of local payment methods on Black Friday
A study carried out by Conversion showed that credit cards are Brazilians favorite payment method for Black Friday purchases. Officially launched on November 16th, Pix showed lower payment intention: 3% said they planned to purchase with the new instant payment method. But Pix’s adoption during Black Friday 2020 was quite surprising, registering more than 3 million transactions and BRL 3.3 billion overall, according to the Central Bank of Brazil.
In light of this scenario, some may question if the boleto bancário is still a relevant payment method – especially during Black Friday, where the risk of retained stock and lower conversions are higher.
But numbers show that the boleto bancário is still a favorite among Brazilians. According to CETIC, the boleto bancário is the second most popular payment method in Brazilian ecommerce, accounting for 52% of consumer preference – followed only by credit cards (69%). With 45 million unbanked and 150 million internet users in Brazil, cash payment methods are imperative for expanding your online store’s reach.
Boleto Flash® boosted by 809% on Black Friday 2020
The most digital Black Friday in history brought very positive results for PagBrasil!
PagBrasil’s exclusive Boleto Flash® – the only boleto in the market with payment confirmation in less than one hour – showed an impressive result: we observed an 809% growth when compared to 2019, between Thursday, one day before Black Friday, and Tuesday. The preference for the boleto with accelerated payment confirmation comes second to credit cards, consumers’ favorite payment method.
3 steps to boosting your boleto sales in 2021
For better results, we separated out three tips to help your business boost sales with boleto bancário. Check them out!
Avoid stock retention with accelerated payment confirmation
Every merchant selling to Brazil understands that delayed payment confirmation of boleto bancário can cause stock retention. As the payment confirmation can take up to three business days and the product must be reserved for the consumer who placed the order until the payment is identified, the stock can run out without the sale actually being made. This problem leads many merchants to disable boleto bancário during Black Friday, as a way to optimize management and avoid stock abduction.
Accelerated payment confirmation is a feature that helps solve this issue: as the payment is identified quickly, the stock is not retained, and the products can be shipped on the same day.
Enable the due date for the same day
If a payment confirmation delay already causes a hassle, adding that to an extended due date is even more serious. Enabling the due date for the same day as the order helps to reduce the risk of stock retention, preventing you from losing a sale to another consumer due to the unavailability of the products.
Recover customers by sending the boleto bar code via SMS and email
Did your customer abandon the cart? Automatically send the boleto bancário’s bar code by SMS or email, encouraging your customer to complete the purchase without having to return to your website. You can also send a payment link so that the customer can choose another way to pay other than the boleto bancário.
Increase your sales with Boleto Flash®
A PagBrasil exclusive technology, Boleto Flash® is the only boleto on the market with payment confirmation in less than an hour.
Check out the main advantages:
- Accelerated payment confirmation
- Customizable expiration date
- Payment reminder via SMS and email
- Completely responsive layout for smartphones and tablets
Discover our solution and contact us to enable Boleto Flash® in your store!