CURITIBA, BRAZIL – March 8, 2018 – EBANX, a fintech company headquartered in Brazil that helps international merchants to sell their products and services to Latin America, by offering Latin American local payment methods to them, released 2017 data on the top sales months for cross-border ecommerce revenue generated in Brazil.
Cross-border ecommerce merchants selling to Brazilians collectively experienced the highest sales volume in November 2017. The following largest months for sales volume were experienced at the end of quarter three in September and the start of quarter four in October. Brazilian consumers made 32.95% of their annual cross-border online purchases during September, October and November.
Fourth quarter sales volume was fueled by culturally specific spending patterns and global sales promotions. Sales within November are heavily fueled by Brazilian employees receiving a thirteenth salary. This additional income is required by law and is usually received in two installments at the start of November and in December.
Global Discount Seasons
Global sales promotions in November created an ecommerce spending frenzy. EBANX’s internal data show that last year’s Single’s Day, occurring annually on November 11, was 177% larger than Black Friday in 2017 in terms of sales volume generated by ecommerce merchants selling to Brazilians.
Single’s Day began more than two decades ago in China and captivated Asia as a day to celebrate being single (the anti-Valentine’s Day) and buying for yourself on ecommerce sites, guilt free. Less than ten years ago it was transformed into an ecommerce holiday and now, it is one of the world’s largest and most anticipated ecommerce shopping dates of the year, regardless of relationship status.
With attractive discounts, affordable shipping rates and free shipping offers, ample social media hype and strategic online marketing campaigns – Single’s Day is a force for ecommerce merchants worldwide to adopt and embrace in 2018.
Examining the two other highest months for ecommerce merchants, spending in September and October can be attributed to pre-holiday shopping as the international shipping process and clearance through customs can often take over 60 days.
Ecommerce sales continue to rise in Brazil. Data collected by Ebit and published in the WebShoppers 2017 edition, reports that Brazilians spent USD 2.4 billion specifically in cross-border ecommerce stores in 2016. Double-digit growth has resulted in a 38% increase in online spending since 2014 through 2017.
Latin America is on track to exceed spending of nearly USD 80 billion in online sales by 2019, as reporter by Statista. The increase of global enterprises and SMBs selling to the region and offering local payment options has lead to a larger selection of products and attractive alternatives driving competition with traditional brick-and-mortar stores.
About EBANX
EBANX is a fintech company headquartered in Brazil that offers end-to-end payment solutions across the entire cross-border ecommerce transaction flow, providing over 100 Latin American local payment options to global merchants eager to expand throughout the region. The company goes beyond payment processing, by offering marketing consultancy services to merchants and a 24/7 local customer support team to serve all their Latin American clients – in their own language. In 2017 EBANX achieved the milestone of 30 million end-users across the region, and in the beginning of 2018 it raised a $30 million investment from US-based FTV Capital. For more information, please visit https://business.ebanx.com/en/.
Press contact:
Mariana Domakoski