5 tips for on Black Friday and Singles’ Day in Brazil
09/08/2023Black Friday and Singles’ Day: 5 tips for success on these commemorative retail dates!
The most important retail commemorative dates are coming: Black Friday and Singles’ Day, the latter known internationally as Double Eleven.
Although there is still some time to prepare (Black Friday is on the last Friday of November while Singles’ Day is on November 11), your company must be ready and fully organized to obtain satisfactory results.
Today we will explore everything about Black Friday and Singles’ Day in Brazil. Check out the next topics:
- How did Singles’ Day and Black Friday emerge in Brazil?
- What are the particularities of Black Friday and Singles’ Day in Brazil?
- 5 tips for preparing for Black Friday and Singles’ Day in Brazil:
- Organize the logistics operation from start to finish;
- Offer local payment options;
- Enable payment in installments;
- Invest in marketing;
- Count on the right partners.
How did Singles’ Day and Black Friday emerge in Brazil?
Singles’ Day was created in 1993, at Nanjing University, located in the east region of China. At first, it started as a joke to respond to couple-centric celebration dates around the world, but over time became a date celebrated not only across China, but also a relevant retail shopping date internationally.
In Brazil, more specifically, Singles’ Day was launched in 2019 by AliExpress. Today, companies with cross-border operations, such as Americanas, Shopee and Shein, take advantage of the opportunity to offer discounts and benefits exclusively for the Brazilian market.
Meanwhile, Black Friday, which is much more popular in Brazil and worldwide, was created in the United States in the 1990’s and gained strength at the turn of the millennium, becoming a very important commemorative date for U.S. retailers. Black Friday arrived in Brazil in 2010, but only in 2012 began to gain traction and adoption.
What are the particularities of Black Friday and Singles’ Day in Brazil?
Singles’ Day has gained traction in Brazil mainly as a way to prepare for Black Friday, which currently is more successful. According to Rakuten Advertising, in the period over 36,000 orders were made on average in a single day through ads about Singles’ Day appearing in its network of affiliates – content producers that publish ads in exchange for commissions for sales or clicks.
Meanwhile, Black Friday has been obtaining increasingly impressive results with each passing year. The Neotrust report about Black Friday in 2022 in Brazil provides important data worth noting:
- Total sales came to R$6.1 billion, down 23% from 2021.
- On the other hand, 8 million users shopped online in the period, up 1% from 2021.
- From November 24 to 27, from pre-Black Friday to Sunday, online stores registered a total of 10 million orders, 18% fewer than in the previous year.
- The use of Pix as a payment method surprisingly rose by 142.87% in relation to the previous year.
- In terms of number of orders, the categories registering the highest sales during the Black Friday were home appliances (17.9%), electronics (15.3%), telephony (14.7%), fashion and accessories (6.2%) and IT (6.1%).
It becomes clear, therefore, the importance of adequately preparing for these year-end dates, since they can generate significant gains for your business. However, how can you do this more effectively? Bexs has some interesting tips for you in the next topic!
5 tips for preparing for Black Friday and Singles’ Day in Brazil
Organize the logistics operation from start to finish
To obtain sales success, your business must have efficient operations. You have to streamline all elements of the process, ensuring:
- suppliers that deliver the highest quality products;
- inventories capable of meeting the stronger demand;
- storage and delivery of products to customers by the agreed date;
- different freight and delivery service options so the customer can always choose the most convenient one for them;
- shipping companies that meet the established delivery deadlines.
According to data from Statista, logistics operations have and will continue to be the backbone of the domestic and international retailing. With investment of EUR 8.4 billion by end-2021, this figure should increase to EUR 13.7 billion by 2027.
Offer local payment options
To effectively capture the Brazilian market during Black Friday and Singles’ Day, you must offer your customers the payment methods they already use in their daily lives.
According to data from the Brazilian Federation of Banks (Febraban), the 4 payment methods involving the highest number of transactions during 2022 were:
- Pix: 24.1 billion;
- Credit card: 18.2 billion;
- Debit card: 15.6 billion;
- Boleto: 4.03 billion.
By offering these options, you considerably increase your chances of successful sales during these dates.
Enable payment in installments
Black Friday typically drives sales of high-ticket products, and many people wait for this date to make high-cost purchases, such as electronics, cell phones, home appliances etc., which often are offered at very competitive prices.
To ensure good sales volume in Brazil during November, you must offer installment payment options to customers. Did you know that domestic research made by the Credit Protection Service revealed that 79% of Brazilians typically opt for this payment method? By offering this option, the changes of increasing your profits rise considerably.
Invest in marketing
Investing in marketing through one or more communication channels is considered key for increasing the brand awareness of your companies.
The recommendation is to carry out communication campaigns on social networks and search tools, which are typically used by customers to find products. When investing, it is important to consider the various channels available for reach your customers. Examples include:
- SEO (various optimizations to improve your site’s position in search mechanisms);
- marketing email;
- creating content on social networks;
- working with influencers who can create value for your brand and products;
- paid campaigns on social networks;
- paid search advertising, among others.
Use the right payment service provider (PSP)
When preparing for these commemorative retail dates, drawing on the support of strategic allies is critical, which could be a key advantage for successfully capturing the market. Based on an analysis of the global partners ecosystem in 2023, conducted by the portal Partner Hacker, sales are 53% more likely to be completed when partners are involved.
In this context, Bexs is the ideal ally for leveraging your business. We offer the Payin solution, a payment processor that allows your company to integrate into the Brazilian market and work with all local payment methods, reaching over 100 million e-shoppers nationwide. Moreover, by opting for our services, you gain access to advantages such as:
- total control over FX volatility;
- high security and risk management;
- sales generation with higher authorization rates;
- flexible payment cycles and much more!
What are you waiting? Count on Bexs and take your business to new heights!