Black Friday and Cyber Monday transactions decline for first time in years

For the first time since 2016, Black Friday saw a drop in iDEAL transactions, with 5.82 million payments processed, an 18.4 percent decrease from last year's 7.13 million transactions. Cyber Monday transactions also fell slightly, from 5.12 million in 2023 to 5.10 million this year, according to data from online payment system iDEAL and Betaalvereniging Nederland. Transactions at brick-and-mortar also fell sharply.

While Black Friday online transactions were lower, the week leading up to the event, known as Black Friday Week, saw significant growth. Between November 22 and 28, iDEAL processed 36.25 million payments, a 27 percent increase compared to the same period in 2023. The total transactions for Black Friday Week, including Black Friday itself, surpassed 2023's figures over the same period.

“Black Friday is no longer just a peak day,” said Amos Kater, Chief Product Officer at Currence iDEAL. “Consumers are spreading their purchases across the entire week. The diversity of discounts—ranging from electronics to clothing and entertainment—has made this week increasingly impactful for the online payment market.”

Cyber Monday saw 5.10 million iDEAL transactions, slightly lower than the previous year’s 5.12 million. Over the weekend between Black Friday and Cyber Monday, iDEAL processed 4.61 million transactions on Saturday and 5.04 million on Sunday. These figures also represent declines compared to 2023, with decreases of 4.7 percent and 1.8 percent, respectively.

The busiest day for iDEAL during this period was Monday, November 25, when 5.92 million transactions were recorded, likely driven by salary payments received earlier that week.

Debit card transactions at physical stores also declined, according to Betaalvereniging Nederland. On Black Friday, nearly 19 million pin transactions were completed, a 5 percent drop compared to 2023 and 5 percent lower than a typical Friday in October. The total value of these transactions, approximately 560 million euros, was down 10 percent compared to last year, but 10 percent higher than a normal Friday.

The decline in pin transactions extended across the weekend. Between Saturday and Black Friday, 108.3 million pin payments were recorded, a 5 percent drop compared to an average October week. However, the total amount spent increased by 5 percent, exceeding 2.9 billion euros.