Montonio, a European payment and ecommerce solutions provider, has released data on consumer shopping patterns in Central and Eastern Europe (CEE) during Black Friday 2023. Montonio is a growing player in the European ecommerce sector, serving more than 6,000 online merchants in CEE, including Poland, Germany, Lithuania, Latvia, Estonia, and Finland.
Mobile-first shopping era dominates Black Friday 2023
Montonio’s analysis of payments made to more than 6,000 online stores on Black Friday 2023 reveals a significant shift towards mobile-first online shopping, with a record more than half (54%) of the purchases on Montonio’s platform during Black Friday made on mobile devices.
Apple Pay and Google Pay gain ground among online shoppers
Due to the growth of mobile transactions, the use of alternative payment solutions like Apple Pay and Google Pay are on the rise among online consumers, with a growing number of all Black Friday transactions taking place via one of these convenient and easy-to-use methods.
Elevated shopping cart values and revenue growth
Montonio’s data highlights a noteworthy increase in consumer spending during Black Friday 2023. The average order value was 28% higher than an average day, reflecting the growing consumer willingness to spend more during major sales events. Furthermore, Montonio observed that the revenue on Black Friday was, on average, three times higher than on a regular Friday, marking a significant boost for retailers.
Steady order values, but increased year over year revenue
Comparing 2023 and 2022, Montonio’s analysis reveals that while the average order value remained consistent with last year, the average revenue per merchant saw a significant uplift of 16%, indicating an increase in the volume of purchases. This trend highlights a modest growth, underscoring the expanding reach and impact of Black Friday sales across the European ecommerce landscape.
Popular product categories: Fashion, Beauty, and Technology
Clothing, beauty products, and tech products/electronic devices emerged as the most sought-after categories during the shopping event.
Merchant perspective on Black Friday trends
According to Montonio’s merchants, Black Friday is their busiest day of the year. A merchant who offers books and online courses commented: “Black Friday is always our peak sales day, with a 2-3x increase. Customers mainly purchase discounted items, while non-discounted products see less demand.” A second merchant who specialises in electronics shared a different approach, “Our ‘Black November’ strategy spreads out promotions throughout the month, peaking on Black Friday with a 1.5-2x sales increase. This approach eases our logistics and boosts sales over a longer period.”
About Montonio
Founded in 2018, Montonio is a European payment and ecommerce solutions provider with a comprehensive platform that enables merchants to accept payments and manage various ecommerce services seamlessly. With a robust suite of services from financing to shipping and refund management, Montonio eliminates the need for multiple systems and offers tailored solutions for specific markets. Today, Montonio is used in 6,000+ online stores in Poland, Germany, Lithuania, Latvia, Estonia and Finland.