PayU Romania is preparing for the Black Friday event in November and is estimating that this year’s edition of the discount sales will bring a 30 percent increase in the value of online transactions compared to last year, reaching over RON 245 million.
“It’s no surprise that Black Friday is the most eagerly awaited event in e-commerce. If we take into account the total value of Black Friday’s online shopping, including both online and cash-on-delivery transactions, we expect the entire amount to rise to over RON 813 million,” says Marius Costin, country manager of PayU Romania.
How buyers pay online
PayU Romania estimates that 35 percent of the total value of processed transactions will come from payments made with a non-interest rate card. One-click payments will also have a significant weight this year on the first day of the Black Friday campaign (November 16) due to the fact that consumers can pay quickly and safely using this method, thus ensuring that they get their favorite product.
“The latest statistics show that 40 percent of the Romanian population buys online and 70 percent of these individuals make monthly online purchases. This indicates a mature e-commerce market and a consistency in the behaviour of online consumers, and Black Friday is the time to best outline trends in e-commerce. In the past two years, the most-used payment methods – pay-per-click and pay-only – have highlighted perhaps the most important trend and business indicator: consumer confidence. More and more Romanians are preparing for Black Friday and choose to pay online, showing confidence in the stores and the services they offer,” says Costin.
What Romanians buy online
Fashion products take up a growing share in the online shopping cart, while the home & deco category has been growing significantly from year to year. IT & C products will also be ranked first in the top buyers’ preferences. According to PayU estimates, the average shopping cart will stay around RON 600, similar to the previous year.
Last year, transactions from 70 countries were recorded on the PayU platform. People from Pakistan, Cyprus or Russia bought products from Romanian sites that had Black Friday discounts.
“Cross-border online trading is the main trend in the digital market without borders, and Black Friday confirms it. Online stores in Romania must be ready for buyers from other countries, and the first step is to make sure they have the right payment methods. For example, for cards issued in other currencies, it is important to provide customers with a payment method such as Multi Currency Pricing (MCP), through which buyers have the ability to pay in a fixed and constant price in foreign currency,” Costin added.
PayU offers traders wishing to expand their business beyond the country’s global PayU HUB platform. Through unique integration with the API, merchants have access to 2.3 billion potential new customers in markets with significant growth, such as Asia, Central and Eastern Europe, the Middle East, India, Africa and Latin America.
PayU preparations for Black Friday
The PayU team began technical preparations for Black Friday as early as August to ensure that everything works perfectly in November and especially on November 16, when there will be a peak of online rebates.
“This year, the entire PayU team, both local and regional, has focused on increasing system scalability through architectural and infrastructure changes. We are preparing automatic routing mechanisms to prevent any case where accepting banks are not online. At this point, the PayU platform can support a large volume of online transactions, and this year we expect to process over 50 transactions per second at peak times,” says Alin Breaban, software development manager Technology Center, PayU Group.
Among the retailers in PayU’s portfolio that will participate in this year’s Black Friday: eMAG, FashionDays, PC Garage, Altex, Elefant, Flanco, Jysk, Kika, Vivre, F64, iStyle.