What’s the importance of Black Friday in Latin America?
Since its creation in the early 1960s, Black Friday has proven to be the most popular shopping event in the United States, and over the years, this important American tradition has spread throughout the world – and Latin America was no exception.
During the past years, Black Friday has become the largest online event in Brazil, and one of the most relevant in Mexico, Argentina, Chile, Colombia, and the rest of the region. The rise in popularity of Black Friday and the continuous growth of Latin Americans’ trust in e-commerce have recently led to remarkable sales stats over the last few years.
In this article, we will talk about the increasing importance of Black Friday in Latin America, as well as provide some interesting insights about this tradition.
Black Friday in Brazil
With a population of 214,000,000 habitats, Brazil is the second most populated country in the Western Hemisphere and the most populated in Latin America. That’s why is no surprise that Brazil has the strongest economy in the region, and so it is their eCommerce market.
Considered the 10th largest eCommerce market worldwide, in 2020 the revenue reached $156.2 billion USD and a growth of 41% compared to 2019.
In recent years, Black Friday has gained great popularity among Brazilians, being nowadays the most important eCommerce event in the country.
In accordance with studies made by dLocal, customer awareness about Black Friday has scaled up immensely, leading to an almost total awareness of this event. This American tradition is now part of Brazilian culture, for sure
Another interesting fact is that Black Friday starts way before its original date in Brazil. As the following graphic shows, Brazilians start to look for products and deals with more intensity one month before the special date.
According to NielsenIQ Ebit in the 2021 edition of Black Friday, $783.258.761 were spent between Thursday and Friday, which means a 5% increase compared to the previous year. Besides, compared to a normal day sales increased by 940% during Black Friday, and it represented the 10,5% sales of the whole year.
If we look at the average expenses, in 2021 Brazilians spent $145 on average, meaning an increase of 16% compared to 2020. The most popular categories of last year’s Black Friday were household goods, electronics, toys, and clothes.
The success of Black Friday in Brazil over the last years is partially explained by all the efforts that marketplaces and retailers made for this special event. In 2021, social media and advertising investments increased by 162.06% compared to previous years.
Black Friday in other Latin America countries
As mentioned above, Black Friday has become a popular festivity across Latin America, and sales are increasing each year during this period.
Countries like Mexico increased their sales by 168% compared to a normal day, and sales during Black Friday represent 5.1% of anual sales in Colombia.
In the case of Argentina, during Black Friday the orders sold grew by 20% compared with the 2020 edition.
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