28 November 2023
Tietoevry Banking reports an increase in card transactions during Black Friday and "Black week". In total, the number of transactions increased by 13 percent compared to an average November Friday, and the week as a whole increased by 7.5 percent. Shopping was most intense at 4 PM CET on Friday afternoon.
"This year's Black Friday has once again exceeded expectations, with a significant increase in the number of transactions compared to a typical Friday. This shows that consumers are increasingly shifting consumption to shopping holidays when the offers are plentiful and prices are lower", says Ole Jacob Selberg, Head of Application Operation at Tietoevry Banking.
On Friday, a peak in transaction volume was observed in the afternoon at 4 PM, where several hundred card transactions were made every second. The total number of transactions increased by 13 percent compared to the Friday average for November.
"We have seen a steady increase in transactions not just during Black Friday but throughout the entire Black Week, indicating an expansion of shopping behavior over a longer period", adds Ole Jacob.
Monday 20/11: 9.2%
Tuesday 21/11: 4.5%
Wednesday 22/11: 3.8%
Thursday 23/11: 8.8%
Friday 24/11 - Black Friday: 13%
Saturday 25/11: 6.7%
Sunday 26/11: 7.8%
Monday 27/11 - Cyber Monday: 6.8%
The statistics are based on hundreds of millions of card purchases made during November 2023 in the Nordic countries and the rest of Europe. The data comes from card purchases made through banks and payment service providers connected to Tietoevry Banking's solution for card management and transactions.