Peak sales data reveals new pan-European sales opportunities for fast-growing merchants
The European online division of Ingenico Group, has released eCommerce transaction data insights which indicate a greater pan-European business opportunity for online merchants during highly targeted peak shopping events. Analysing trends from Black Friday transactions over the past three years, Ingenico highlighted that sales are still on the increase, driven in part by the rapid growth of cross-border transactions throughout the continent. From 2016-17, cross-border sales rose by 16 per cent. Last year this figure surged by 70 per cent when compared with sales in 2017.
The increase in cross-border sales is replicated on other peak sales days throughout the year. On Cyber Monday, for example, cross-border transactions in Europe increased by 71 per cent between 2017 and 2018.
The data represents the growing number of consumers who are using online peak sales days to find the best deals and right products across borders. Ingenico has noted that these peak sales moments – when traffic is high and consumers are on the lookout for new, unique offers – are an opportunity for merchants to attract these international shoppers.
Benoît Boudier, managing director, SMB Online Europe from Ingenico, commented: “Five years ago, peak sales events were still very much a domestic event, but it is clear now that with the development of social media influencers and globalisation of trends, merchants need to use these events to reach out to a broader audience across Europe.”
Looking back at the origin of Black Friday transactions, nearly half (44 per cent) of total European sales were cross-border in 2018 – a healthy growth from 2016 which saw 23 per cent of all transactions coming from international consumers.
Since cross-border purchases are not set to slow, Ingenico is encouraging growing merchants to properly leverage peak sales days in order to expand beyond their home market and grow their customer base, advising a targeted approach.
“Shoppers are no longer tied to their physical location – as long as the shopping, checkout and delivery process feels local to them,” added Robin Soubry, head of product strategy and customer experience at Ingenico ePayments. “Barriers may be diminishing online throughout Europe as countries become more closely connected, but each region is incredibly diverse, reflecting their own unique cultures and histories. Languages are different, tastes vary, and payment methods alternate – this should all be taken into account by merchants to ensure the best customer experience in every new region they wish to target.”