Black Friday 2022 comes back strong, more so than any other year before. :- www.deekpay.com

The end of the year is always full of celebrations and the shopping frenzy is fuelled by the massive sales that take place at this time. Usually, the well-deserved lead is the Diwali sale season, but Black Friday seems to be catching up fast.

What is Black Friday?

Originally a US-specific phenomenon, with the introduction of companies such as Amazon, a host of online and omnichannel retailers in India hosted massive promotions over the Black Friday weekend this year - including all-night shopping at malls and amazing discounts at online shops.

We wanted to know how big Black Friday really is in India. Here's data from ecommerce companies on our platform that reveals the true impact of Black Friday in India.

Black Friday 2022 sales are booming

Black Friday 2022 (25-27 November) saw a 30-40% increase in trading volume compared to 2021.

Retailers' GMV (Gross Merchandise Value) over the Black Friday weekend increased overall by 20% compared to the average weekend in November 2022.This shows the overall growth in e-commerce sales and more importantly, the number of retailers hosting Black Friday sales in India is increasing.

Credit Cards and UPI Drive Big Category GMV Growth on Black Friday

Black Friday was a huge success for merchants in categories such as apparel, accessories and home decor. Credit cards and UPI became the most popular payment methods.

The GMV of UPI-based purchases in these categories grew by more than 60%. Purchases paid by credit and debit cards increased by nearly 48% and 33%, respectively.

Some categories outperform others on Black Friday

Black Friday promotions helped merchants in the electronics, fashion and beauty categories achieve higher GMV, while travel and hospitality merchants saw sales drop over the Black Friday weekend.

The GMV trends for these categories are roughly as follows:

Black Friday is yet to become an all-India phenomenon

While buyers from all over India flocked to online and offline shops over the Black Friday weekend, most of the consumers came from areas with larger urban populations.

This is not necessarily bad news. The data shows that Tier 2 to Tier 3 cities have great potential to make Black Friday promotions even more successful.

You can also realise Black Friday sales with the right payment solution

Black Friday is an event on a grand scale, with thousands of people flocking to your shop to snap up their favourite items in case they sell out. To make such an event a success, robust digital payment mechanisms are required to handle high transaction volumes to ensure the smoothest checkout experience. While debit cards and UPI have become basic requirements, payment options like EMI and BNPL can offer sweeter deals to your customers.