Swiss SMEs achieve record turnover in online sales on Black Friday 2023
Thun, December 1, 2023
Payrexx e-commerce merchants record record sales on Black Friday 2023, according to a data survey by Swiss payment provider Payrexx.
On this year's Black Friday, which fell on November 24, Payrexx's online merchants recorded a huge increase in sales. This year's sales even exceeded those in the coronavirus year 2020, when online retail was booming and online shopping was predominant at times.
The Swiss payment provider Payrexx conducted a data survey with 900 typical SMEs (small and medium-sized enterprises with 1-100 employees). The companies included merchants from various sectors such as event services, traditional online stores, healthcare services, education and gastronomy.
Online sales 107 percent higher on Black Friday
Compared to Friday of the previous week, online sales processed via the Payrexx payment platform more than doubled on Black Friday. The exact growth between the two weeks was 107%, despite falling consumer basket values. The strongest sales periods on Black Friday were between 9 am and 3 pm, as the following chart shows.
Temporal evaluation of the transaction volume of 900 online retailers on 17.11.2023 and 24.11.2023
Increase in sales compared to previous years
Year-on-year, there is a trend towards higher sales on Black Friday. Compared to Black Friday 2022, the analysis of the average transaction volume per retailer showed an increase of around 34%. While the volume last year averaged CHF 1,106 per retailer, this year it was CHF 1,476 on Black Friday.
Even compared to 2020, when online shopping increased due to the coronavirus pandemic (an average of seven transactions and CHF 1,356 in sales per retailer), this year's Black Friday sales are at a record high with an average of twelve transactions and CHF 1,476 in sales per retailer.
Number of online purchases increased by 71 percent since 2020
The rising sales despite lower shopping basket values can be explained as follows: while the average shopping basket value of consumers has tended to fall since 2020 (-28%), the number of transactions in online stores has risen steadily since 2020 (+71%). This means that although people are spending less money, they are shopping online more often.
Data collection
The data shows an evaluation of the transactions processed via the Payrexx platform. The analysis is based on a sample of 900 e-commerce companies. The measurement includes data from 13.11.2023, 26.11.2023, 25.11.22, 26.11.21 and 27.11.20 between 0:00 and 23:59.
This is Payrexx
Payrexx was founded in Thun in 2015 and specializes as a payment institution in the processing of digital payment methods. As a registered payment facilitator of Mastercard and VISA, the Swiss company operates a self-developed payment platform that unites a total of 40 payment providers and more than 200 payment methods and currencies from all over the world via a single interface.
Over 50,000 satisfied customers across Europe already process their online payments via Payrexx. These include well-known brands and companies such as BKW, Carvolution, Zweifel, Hotelcard, SBB, Swisscom and Swiss Post. Payrexx users have the opportunity to make use of an agile platform that is easy to use and also highly innovative in terms of technology. The e-commerce tools offered (Pages, Paylink, Invoice, Donations, QR Pay, Terminal) provide merchants with an all-in-one solution that is highly effective and reduces their workload.
All Payrexx systems are designed with redundancy, guarantee the highest level of fail-safety and are certified according to the strictest PCI-DSS Level-1 guidelines.
