Black Friday 2024 Sets Historic Record for Physical Stores and E-Commerce Retail

Data from Serasa Experian reveals a positive outlook for Brazilian retail

Luiz Rabi, economist at Serasa Experian

By: SiiLA News

12/06/2024

Sales in physical and online stores surged during Black Friday 2024. Data from the Serasa Experian Trade Activity Indicator shows that, during the week of November 25 to December 1, the physical retail sector experienced an 18.7% increase compared to the same period in 2023, marking the highest growth since the series began in 2017.

The increase was even more pronounced during the event's weekend (November 29 to December 1). During this period, sales jumped by 23.9%, compared to the equivalent weekend in the previous year (November 24 to 26).

According to Luiz Rabi, economist at Serasa Experian, factors such as the first installment of the 13th-month salary and promotional strategies were key drivers behind the surge in consumer spending.

“The payment of the first installment of the 13th salary, combined with strategies adopted by retailers, may have significantly contributed to the increase in sales by attracting consumers ready to spend,” Rabi explains.

The Trade Activity Indicator is based on inquiries made by approximately 6,000 retail establishments to Serasa Experian's database. The calculations incorporate trimmed statistical averages and weightings based on the Brazilian Institute of Geography and Statistics (IBGE) Monthly Trade Survey.

Beyond Black Friday: Retail Sales Tend to Grow in Q4

The impact of Black Friday is also noticeable in shopping malls. Data from GROCS, a SiiLA platform, indicates that sales volumes in shopping malls are historically higher in the fourth quarter compared to other periods of the year.

For instance, in 2023, sales volumes increased by 18.5% in Q4 compared to Q3. In monetary terms, sales reached R$ 2,280/m² in Q4 compared to R$ 1,924/m² in Q3.

An analysis of recent years shows a correlation between annual variations in sales volumes reported by SiiLA's GROCS platform and Black Friday sales, as illustrated in the chart below:

Source: SiiLA and Serasa Experian

In the Online World

In e-commerce, Shopee reported record growth, doubling its sales on the Thursday and Friday of Black Friday compared to 2023. High-value categories such as video games and home appliances stood out, with increases of 200% and 180%, respectively.

Shopee also highlighted the dominance of Pix as the preferred payment method, accounting for over 50% of transactions, followed by credit cards, which represented just over 30%. The SParcelado payment model, which enables installment purchases without a credit card, gained five percentage points and surpassed the use of bank slips.

The marketplace invested heavily in live commerce strategies, hosting over 2,500 broadcasts during the event. Among the highlights, the “Live da Virada” (Turnaround Live) on the evening of November 28 garnered 400,000 views and 3 million likes, while the “Escolhidos da Black” (Black Friday Picks) live event on November 29 achieved similar results.

According to the Chinese retailer, the most-sold item was an air fryer, with 34 units sold per minute. In the home goods category, stainless steel faucets, drills, screwdrivers, and bedding sets were customer favorites.

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