Record number of 7.1 million payments made during Black Friday

The Black Friday phenomenon that spilled over from America led to significantly more additional debit card transactions on Friday. According to payment platform iDEAL, a record-breaking 7.1 million payments were made, compared to 6.1 million last year.

"For three years in a row, Dutch consumers have shopped significantly more on Black Friday than the year before," the platform reports. According to iDEAL, 78 percent of all transactions in the Netherlands are iDEAL payments.

PostNL has also noticed that the Dutch are using their cards more often. In its own app, the postal company warns that parcels may be delivered later than usual. However, a spokeswoman emphasized that there are currently no delays. In the days following Black Friday, the company has to deliver around 2 million parcels per day, twice as many as on a normal day. On the days surrounding Black Friday, many Dutch people also shop at a discount during Sinterklaas.

According to the Dutch Payments Association, the number of debit card payments on Black Friday was around 10 percent higher, and turnover around 20 percent higher than on a normal Friday at the beginning of November. The association stated that the number of debit card payments at the retail checkout on Black Friday was about the same as last year. This could be because online stores sell more on Black Friday than physical stores. The association also notes that Black Friday is no longer a one-day shopping spree. "It seems to be taking place over an increasingly longer period of time," it says.

The biggest beneficiaries on Friday were physical stores in the fashion and clothing sector, where around 80 percent more debit card payments were made than on a normal Friday. "Other retail sectors where significantly more debit card payments were measured were photo/jewelry/optics (up 50 percent), toys/hobbies/sports (up 50 percent) and department stores/hardware stores (up 35 percent)."

In the United States, things were a bit quieter on Friday compared to previous years, according to investment banks. Consumers looking for discounted electronics, clothing, and home goods as the holiday shopping season kicks off are crucial for major retailers.

According to market experts, many consumers already did their shopping last month, because companies were already offering many discounts at that time. “People already have what they want. You can only buy so many big TVs and voice assistants,” said an American retail expert from Huntington Private Bank. However, retail chains are also expected to offer discounts for the rest of the year to reduce their inventories.