How Black Friday can help merchants reimagine e-commerce

How Black Friday can help merchants reimagine e-commerce

This week's Black Friday has taken considerably greater global significance with retailers of all sizes, sectors and geographies seeking a welcome boost during this uniquely challenging year.

Optimism abounds that the shopping festival can remedy some of the painful spending declines merchants experienced during lockdowns, while providing a barometer of confidence to kick-start the holiday season.

While most bricks-and-mortar stores across Central Europe, Middle East and Africa have felt the impact of restrictions this year, eCommerce momentum continues. For example, a recent Visa and Dubai Economy study highlights that 63 percent of internet users in the UAE now shop online, with interest peaking during seasonal events. The same study found that 49 percent of consumers are now shopping more online than at the start of the pandemic.

Immediately following earlier lockdowns, we saw a similarly consistent move online in many geographies, from Moscow to Maputo, and Lahore to Lagos.

As consumers stayed home and merchants remained shuttered, online became not just a convenient way to shop, but often the only way.  These behaviours have since persisted. More people are now shopping online, and those who already had experience with e-commerce were buying a larger range of goods and services online.

This presents enormous opportunity for