Black Friday Cyber Monday Payment Trends (2024)

MONEI | December 12, 2024

This year, we analyzed more than 73,000 online transactions from Black Friday to Cyber Monday included, to learn how the payment preferences of Spanish consumers are evolving.

Black Friday payment trends 2024

Here are the results of the analysis:

Payment trends on Black Friday and Cyber Monday 2024

For the first time in MONEI's history, Bizum transactions surpass card purchases, with 48% of transactions
Mobile purchases continue to grow, reaching 74% of transactions, versus 69% last year
Average purchase value down by 4.10 euros (from 77.30 euros to 73.20 this year)

For yet another year, despite the economic situation, shoppers have been enjoying Black Friday deals. Throughout this campaign, the number of transactions via MONEI rose by 150% compared to last year, and the total volume by 137%. This difference is due to the fact that the average shopping cart fell by 5% (from €77.30 to €73.20 on average).

Number of transactions

For the first time in MONEI history, Bizum positioned itself as the most widely used payment method, surpassing credit and debit cards. In 2024, transactions made through Bizum accounted for 48.1% of the total, an increase of 226% over the number of transactions with Bizum the previous year.

It is followed in popularity by cards with 40.1% of the market, Apple Pay with 7.4%, Google Pay with 2.5%, PayPal with 1.6% and, lastly, Click to Pay with 0.3%.

Despite this exponential growth in the number of transactions, in terms of economic volume, cards still maintain the leadership.

As for the shopping calendar, a significant increase in transactions was observed on Monday 25, coinciding with the start of promotions of numerous brands. However, this year, Cyber Monday has failed to generate the expected sales peak, repeating last year's trend. In fact, the Sunday prior to this event turned out to be a day of increased commercial activity.

Bizum already surpasses cards as a payment method at MONEI

The data confirms a growing consumer interest in Bizum as a payment method. Merchants offering this option have experienced a significant increase in the use of this service.

While the average value of purchases made with Bizum (€65.5) is slightly lower than the overall average (€79), the volume of transactions through this platform has more than tripled compared to the previous year. This positions Bizum as the preferred payment method for many consumers, demonstrating stability in average cart value despite a 5% decrease in overall shopping cart value.

For digital wallets, an overall positive trend is observed. Apple Pay maintains its third place, increasing its share of transactions from 6.76% to 7.40%. Google Pay stands out for having the highest average cart value, at €86.93, exceeding the overall average by approximately €7.

As for PayPal, it maintains a relatively stable share, at around 1.6% of transactions, thus halting a downward trend observed in previous years.

The proportion of mobile purchases continues to increase

Se evidencia una tendencia al alza en las compras realizadas desde dispositivos móviles. Este año, el 74% de las transacciones se efectuaron a través de smartphones, un incremento del 5% respecto al año anterior.

Sin embargo, el valor promedio de las compras realizadas desde ordenadores sigue siendo superior, con un promedio de 90€ por transacción, en comparación con los 68€ registrados en dispositivos móviles. Estos datos sugieren que una parte de los consumidores aún prefiere utilizar ordenadores para realizar adquisiciones de mayor valor.

Highlighted sectors

Among the sectors represented in the study, the sectors with the highest sales volume were clothing, cosmetics and sports.

Conclusions

MONEI retailers continue to have successful Black Friday campaigns:

The total volume of sales made through MONEI rose by 137% in 2024.
While the average basket value decreased by €4 compared to €77.28 in the same period last year, the total number of purchases more than doubled from 29,282 in 2023 to 73,162 in 2024, an increase of 150%.

In a volatile economic environment, MONEI retailers continue to thrive. Our BFCM 2023 report confirms this. To further drive their success, we continue to work to offer increasingly comprehensive payment solutions tailored to their customers' needs. By expanding payment options and streamlining processes, we help our merchants stand out in an increasingly competitive market.

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