Peach Payments customers have recorded bumper November sales volumes – showing an increase of 86,9% this year compared to November last year.
While Black Friday and Cyber Monday growth (22,9% and 34% respectively) impacted figures somewhat, overall sales volumes showed a dramatic and consistent increase over November.
“With the impact of Covid-19 and lockdown, consumer adoption to e-commerce in South Africa escalated sharply,” says Rahul Jain, Peach Payments co-founder. “We have seen businesses adapt to this trend and opt to run specials throughout November.
“The result of this is that while we see spikes in sales over Black Friday and Cyber Monday, overall sales for November surpassed expectations to such an extent that those traditional increases in volume over these two days seem tempered. However, this is due to the impressive growth in the volume for the full month.”‘
When comparing November 2020 to November 2019, figures reflect the Retail sector having the highest increase of 101%; the Beauty sector showing an 98% increase; and the Food and Beverage sector showing a 102% increase.
Jain comments: “The SME segment experienced significant growth of 383% in November, year on year, while enterprise businesses saw growth of 82%. Enterprises have always been the hero of Black Friday and Cyber Monday so seeing our SME clients experience such sharp growth in sales volumes is exceptionally encouraging and a good sign of the power of e-commerce for SME growth.”
Peach Payments has seen a 400% increase in customer acquisition since March last year.
Peach Payments has put significant effort into SME support in the year, with a number of educational initiatives and, over the last month, campaigns to support their SME customers’ businesses.