Three shoppers have already spent R500,000 online the day before Black Friday
One online shopper in South Africa has already spent R600,000 the day before the official start of Black Friday 2023 through Ozow’s payments platform.
That is according to a regularly refreshed online dashboard Ozow developed for Black Friday.
Ozow’s tool is designed to provide insights into the spending patterns of consumers over the biggest retail sales period of the year.
The dashboard includes the amounts for the largest single transaction, the average transaction value, and the most transactions by a single customer, among other data points.
It also tracks the top 3 customers by amount spent and number of transactions.
The data is refreshed every 15 minutes and reset at one minute past midnight daily.
As of 13:30 on Thursday, 23 November 2023, the highest amount spent by a single customer using only Ozow Instant EFT was around R600,000.
The second-biggest spender had a combined expenditure of R550,000, while the third-highest splurger had spent around R500,000.
It is interesting to note that all these transaction values were racked up in just a day.
While it is unclear what these customers bought, several major retailers have already started offering substantial discounts on a wide range of products and services as part of their early Black Friday promotions.
Biggest single transaction and highest transactions by one customer
The biggest single Ozow Instant EFT transaction at the time of publication was R258,000, while the average transaction value was R523.04.
The highest number of transactions by a single customer using Ozow in the retail sector was 14.
It was interesting to see that the three busiest shoppers had made several dozen transactions across all their online activity.
The most a single customer had transacted was 68, followed by one customer who had transacted 50 times and another who made 44 payments.
The screenshot below shows the Ozow transaction dashboard as of 14:00 on Thursday, 23 November 2023.
For further details on the data points Ozow was tracking, it provided the following definitions:
- Largest Single Transaction:
This figure represents the current highest individual purchase made by a consumer within the retail sector using Ozow Instant EFT.
- Average Transaction Value:
This figure represents the average value of all purchases made at our retail partners using Ozow Instant EFT.
- Highest Daily Spend by a Single Consumer in the Retail Sector:
This figure represents the greatest amount spent by a single customer across multiple baskets and transactions using Ozow Instant EFT.
- Most Transactions by a Single Consumer in the Retail Sector:
This figure represents the most transactions made by a single customer using Ozow Instant EFT.
- Processing Value (Hourly):
This graph displays the hours when the highest value of transactions have taken place using Ozow Instant EFT.
- Number of Transactions (Hourly):
This graph shows the hours that have seen the most transactions take place using Ozow Instant EFT.
- Top 3 Customers by Amount Spent:
These figures represent the top 3 customers and their number of transactions using Ozow Instant EFT.
- Top 3 Customers by Number of Transactions:
This section shows the top 3 customers in terms of the number of transactions processed by an individual using Ozow Instant EFT.
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