The deferred payment shoots up in the Black week and throughout the month of November

The deferred payment shoots up in the Black week and throughout the month of November
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Oney, a company specializing in payment solutions, consumer credit and insurance, has developed a report on the purchasing habits of Spaniards during the past month, with a special focus on the Black week (November 23-30), which shows that household products, small household appliances and consumer electronics were the most demanded items, and that deferred payment continues to gain ground in user preferences.

From the analysis of the transactions carried out in a sample of businesses that offer the 3x 4x Oney deferred payment solution, it can be deduced that in November there was a 110% increase in deferred payment compared to the monthly average of 2020, and 35%, compared to the same month of 2019.

Unlike in previous years, the results of this survey show that the campaign Black friday of 2020 has collected a lower concentration of purchases on the key days of that business week (between 23 and 30), but instead there has been a general increase throughout the month of November, which has doubled the number of customers who have requested deferred payment for their purchases, compared to the average collected in previous months.

The products of the Black friday most demanded with deferred payment

Star purchases in deferred payment transactions 3x 4x Oney during the Black friday have been those related to household and small household appliances (45%), followed by consumer electronics (27%) and sports (20%).

The physical channel continues to lose strength with respect to the digital one in the last campaign of Black friday, largely due to the persistence of the effects of the health crisis, which continues to promote online shopping in a generalized way. Thus, 87% of online purchases have been registered, versus 74% in 2019, and 13% in face-to-face purchases, versus 26% last year.

Deferred payment increases the average cart

According to the last IAB Study on Ecommerce in Spain, the average ticket in online purchases is 64 euros, while, in the case of purchases made through deferred payment, the average ticket can be even five times higher, exceeding 350 euros.

In the case of Black week 2020, the data from the Oney report show that the average ticket with deferred payment has fallen to € 325, because interest-free promotions have made it possible to finance items of all kinds of prices, and not only those of higher amounts , which represent the most common purchases on these dates.

Likewise, depending on the sector, the basket varies considerably, highlighting those related to the automobile, with € 423 on average, consumer electronics, with € 417, and sports, with an average ticket of € 336.

During this period, the conversion ratio has increased in all sectors by 4 points compared to the average of the previous months, while the recurrence of consumer purchases and the use of deferred payment 3x 4x Oney has quadrupled.

3x 4x Oney, a purchasing facilitator for merchants

3x 4x Oney is a digital and 100% mobile solution for ecommerce, also available in physical stores, which allows customers to pay for their purchases, from € 90, in various installments using any credit or debit card, through a process fast and easy that does not imply providing additional documentation or long waits.

For businesses, the deferred payment solution is also an important element of differentiation and loyalty, it simplifies and improves the shopping experience of its users while increasing the conversion rate, up to 40% in some cases, with the consequent increase in sales.

This payment solution is present in more than 40 stores, both physical and electronic, among which are large retailers like Decathlon, Worten or Leroy Merlin; shops such as FNAC, Cecotec, Norauto or Showroompriveé; and brands such as Samsung or Xiaomi, among others.



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