What’s the importance of Black Friday in Latin America?
Since its inception in the early 1960s, Black Friday has solidified its status as the most popular shopping event in the United States. Over the years, this significant American tradition has transcended borders and spread throughout the world, including Latin America.
In recent years, Black Friday has emerged as the largest online shopping event in Brazil and has gained considerable traction in Mexico, Argentina, Chile, Colombia, and the rest of the region. The surge in Black Friday’s popularity, coupled with the growing trust of Latin Americans in e-commerce, has resulted in impressive sales figures in recent years.
In this article, we will delve into the increasing significance of Black Friday in Latin America and provide intriguing insights into this tradition.
Black Friday in Brazil
With a population of 214 million people, Brazil stands as the second most populous country in the Western Hemisphere and the largest in Latin America. It comes as no surprise, then, that Brazil boasts the strongest economy in the region, particularly in the field of e-commerce.
Ranked as the 10th largest e-commerce market globally, Brazil recorded a staggering revenue of $156.2 billion USD in 2020, marking a remarkable 41% growth compared to 2019.
In recent years, Black Friday has gained immense popularity among Brazilians, currently holding the mantle of the most significant e-commerce event in the country.
According to studies conducted by dLocal, awareness among customers regarding Black Friday has witnessed a substantial uptick, with the event now ingrained in Brazilian culture.
Furthermore, it’s worth noting that Black Friday in Brazil kicks off well before its original date. As depicted in the following graph, Brazilians begin actively searching for products and deals with heightened enthusiasm a month prior to the special day.
In the 2021 edition of Black Friday, as reported by NielsenIQ Ebit, a staggering $783,258,761 was spent between Thursday and Friday, reflecting a 5% increase compared to the previous year. To put it in perspective, sales during Black Friday surged by a whopping 940% compared to a typical day and represented 10.5% of the entire year’s sales.
Looking at average expenditures, Brazilians shelled out an average of $145 in 2021, marking a 16% increase from 2020. The most sought-after categories during last year’s Black Friday included household goods, electronics, toys, and clothing.
The success of Black Friday in Brazil in recent years can be attributed in part to the substantial efforts invested by marketplaces and retailers. In 2021, investments in social media and advertising witnessed a staggering 162.06% increase compared to previous years.
Black Friday in Other Latin American Countries
As mentioned earlier, Black Friday has evolved into a widely celebrated occasion across Latin America, with sales consistently on the rise during this period.
Countries like Mexico experienced a remarkable 168% increase in sales compared to an ordinary day, and Black Friday sales account for 5.1% of annual sales in Colombia.
In the case of Argentina, orders during Black Friday surged by 20% compared to the 2020 edition.
Boosting Online Sales in Latin America during Black Friday 2022
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