The average transaction per minute on Cyber Monday was 408 as South Africans continued to shop for the best deals online.
This is according to the 3D Secure data, BankservAfrica’s online card authentication service (i.e., transactions that require customer authentication), which has been used to track online sales for Black Friday and Cyber Monday.
The online deal hunting on Cyber Monday resulted in a total volume of 587 647 transactions, representing a 30% growth compared to the 432 814 recorded in the previous year.
“The value of transactions made on Cyber Monday was R625-million, which is 18% growth on the 2021 value of R516-million,” says Martin Grunewald, chief business officer at BankservAfrica.
The most expensive transaction occurred at a luxury hotel in Cape Town to the value of R4,4-million. The busiest shopping time of the day was recorded between 12:00 – 13:00.
BankServ Africa data shows online shopping for Black Friday proved to be a hit. The total number of transactions reached 1,2-million and was valued at over R1-billion.
The highest valued purchase made on Black Friday was for R1,9-million at a prepaid smart metering company.
The average transaction per minute for the day was 874.
“Overall, this year’s online Black Friday and Cyber Monday showed good year-on-year growth and demonstrated a greater push to make the most of the online sales compared to the previous years,” says Grunewald.