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FNB expects ecommerce transactions to increase by 10% on Black Friday

Despite 2020 throwing all manner of curve balls our way, it’s nice to know there are some constants which never change.

One of those constants is seemingly Black Friday and Cyber Monday, which many retailers will still be marking with sales. The extent of those sales however is an unknown and given that 2020 has been a helluva year financially speaking for many folks, we’re curious to see what savings will be on offer.

Despite this, FNB believes that ecommerce transactions will increase on Black Friday. This is because, many more people may opt to shop online should they be in the market for tempting deals.

“This year we anticipate a 10 percent increase in the total number of ecommerce transactions between 27th and 30th November, when compared to last year, as many consumers who participate in Black Friday may opt to shop online instead of going into brick and mortar stores,” explains chief executive officer of FNB Merchant Services, Thokozani Dlamini.

While we might see an increase in ecommerce transactions, FNB’s head of Merchant Services doesn’t anticipate significant year-on-year increases as regards transaction values. This is due to the financial impact COVID-19 and associated lockdowns have had on the world.

Of course, not all Black Friday and Cyber Monday transactions will take place online. To that end, Dlamini foresees an increase in the number of contactless transactions.

We are curious to see what Black Friday looks like in our current global climate and while we aren’t going to make brash assumptions – we suspect that Black Friday 2020 isn’t going to be the retail delight it has been in previous years.

[Image – CC 0 Pixabay]

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