Peach Payments sees 93% surge in Black Friday sales
As e-commerce continues to shape the retail landscape in South Africa and beyond, Peach Payments' latest results highlight not just a shift in consumer behaviour but also the potential for continued growth in the digital payments ecosystem. With merchants adapting to these evolving dynamics, future Black Fridays promise exciting developments for both businesses and consumers alike.
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In a resounding testament to the growing dominance of digital commerce, Peach Payments announced a staggering 93% uplift in sales processed during the Black Friday and Cyber Monday weekend compared to 2024.
The South African payments platform reported that over four days, it handled more than 2.69 million transactions totalling a remarkable R1.86 billion.
Chief Executive Officer and cofounder Rahul Jain shared that the most significant individual transaction during this weekend was an impressive R1.09 million deal in the Travel & Accommodation sector.
This highlights not only consumer confidence but also the increasing reliance on online transactions in various sectors.
The Retail sector was a notable success story, boasting a remarkable 154% increase in its share of online sales compared to last year.
This surge reflects a broader consumer trend towards online shopping, as Jain noted, “We continue to see deals being pulled in across the whole of November, not just the BFCM weekend. We also continue to see a shift to online spending rather than in physical stores.”
The robust performance was not confined to retail alone, as several other industries also reported significant growth. Financial Services saw an impressive 98% increase, while Leisure & Entertainment and Travel & Accommodation grew by 48% and 35% respectively.
Perhaps most notably, the Buy Now Pay Later (BNPL) option has gained traction among consumers, experiencing an astonishing 753% growth in rand value this Black Friday compared to last year.
Similarly, ApplePay transactions rose sharply by 549%, reflecting the growing consumer appetite for alternate payment methods and the secure, user-friendly experiences they provide.
“This Black Friday surpassed expectations in a year that has seen South African merchants face tough conditions,” Jain remarked, underscoring the resilience of the e-commerce landscape.
Peach Payments also provided insights into its expanding operations in Mauritius, where sales processed during the Black Friday weekend soared by 1365% compared to 2024.
Jain attributed this growth to the influx of new merchants leveraging the platform’s capabilities, with the number of individual transactions also rising significantly by 377%.
“Black Friday is slowly coming into its own in Mauritius. As more merchants make it easier for their customers to pay online, we’ve seen the rupee value of Black Friday sales and individual transactions increase steadily,” Jain added. This performance in Mauritius marks only the second year that Peach Payments has shared such figures, but the positive trends indicate a growing embrace of Black Friday among local consumers.
BUSINESS REPORT