One Black Friday shopper made a R818,000 purchase
Ozow’s Black Friday dashboard has revealed that one shopper spent R818,000 in a single transaction on the day.
The dashboard is designed to provide insight into customer spending during the sales event, and it resets daily at one minute past midnight.
It provides data across several categories, including:
- Largest transaction within the retail sector through a single Ozow Instant EFT payment.
- Average transaction value across all payments made within the retail sector through Ozow Instant EFT.
- Highest daily spend by a single customer through Ozow Instant EFT.
- Most transactions by a single consumer in the retail sector through Ozow Instant EFT.
- Times during which the highest value payments have been made through Ozow Instant EFT (hourly).
- Times during which the most transactions have been made through Ozow Instant EFT (hourly).
- Top three customers by amount spent and their number of transactions through Ozow Instant EFT.
- Top three customers by number of transactions through Ozow Instant EFT.
As of 15:00 on Friday, 24 November 2023, the highest single transaction made amounted to R818,000.
Ozow told MyBroadband that the transaction was for a travel package.
“It’s always a joy to see our merchants reaping the benefits of the secure platform we’ve developed, both for substantial transactions and on a day-to-day basis. Yet, today is indeed special,” said Ozow CEO Thomas Pays.
“Black Friday always brings an air of anticipation, and witnessing our merchants soar to great heights is truly the highlight of our day. As we approach the festive season, we would also like to express our gratitude to all the consumers who entrust us with their transactions. One such consumer has made a booking with a travel partner. Whilst we are unable to divulge further details, we wish them a journey filled with delight and lasting memories. Bon voyage!”
Two other customers spent over R400,000 each, with one spending R429,000 through a single transaction and the other spending R405,000 across 24 payments.
The person who paid R429,000 currently holds the title of the highest daily spend by a single consumer in the retail sector.
Below is a screenshot of the Ozow Black Friday transaction dashboard as of 14:00 on Friday, 24 November 2023.
The most payments a single customer made through Ozow’s Instant EFT service was 68.
According to the transaction dashboard, the average value across all transactions processed through Ozow Instant EFT is R686.62.
Ozow opened its Black Friday dashboard on Thursday, 23 November 2023 — the day before Black Friday, when several South African retailers offered early-access promotions.
By 14:00 on Thursday, the largest single Ozow Instant EFT transaction was R258,000, while three customers had spent more than R500,000 across several transactions each.
Biggest transactions of Black Fridays past
Despite the South African public being under strict Covid-19 restrictions, Black Friday 2021 saw the biggest single transaction in the last three years.
However, this could still change with several hours to go on Black Friday in 2023.
On Friday, 26 November 2021, BankservAfrica recorded a R4 million transaction through its 3D-Secure online card authentication service.
It was the largest of 38,490 transactions the payment service provided recorded on Black Friday.
The organisation found that Black Friday’s total value of transactions was R1 billion, while Cyber Monday, which falls on the first Monday following Black Friday, hit R516 million.
Black Friday 2022 saw at least two customers spend more than R1 million through a single transaction, with the highest being R1.88 million.
However, Standard Bank noted that the payment was made by one of its commercial clients.
One Nedbank customer spent R800,000 in a single transaction. Nedbank also recorded the highest total amount paid by one customer across all banks in 2022 — R1.3 million.
Therefore, the R818,000 transaction Ozow recorded today is larger than the biggest consumer transaction South Africa’s banks serviced last year.
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