Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions
Block's ecosystem achieved record-breaking performance during Black Friday and Cyber Monday 2024, processing 144 million transactions globally, marking a 17% increase from the previous year. Online and in-store sales grew by 21% and 17% respectively, with online cart sizes being twice as large as in-person purchases. Gift card sales saw a 29% year-over-year growth, with 450K cards purchased. Restaurant transactions increased by 12%, while Afterpay's Buy Now, Pay Later transactions rose 10%. The Cash App Card, with 24 million monthly active users, saw retail purchases increase by 19% and gaming purchases by 46%. Social media purchases grew significantly at 139%, outpacing department store growth by 4X.
L'ecosistema di Block ha raggiunto un rendimento record durante il Black Friday e il Cyber Monday del 2024, elaborando 144 milioni di transazioni a livello globale, segnando un aumento del 17% rispetto all'anno precedente. Le vendite online e in negozio sono cresciute rispettivamente del 21% e del 17%, con le dimensioni dei carrelli online che erano due volte più grandi rispetto agli acquisti di persona. Le vendite di carte regalo hanno registrato una crescita anno su anno del 29%, con 450.000 carte acquistate. Le transazioni nei ristoranti sono aumentate del 12%, mentre le transazioni di Afterpay per il pagamento in rate sono aumentate del 10%. La Cash App Card, con 24 milioni di utenti attivi mensili, ha visto aumentare gli acquisti al dettaglio del 19% e gli acquisti di giochi del 46%. Gli acquisti sui social media sono cresciuti significativamente del 139%, superando la crescita dei grandi magazzini di 4 volte.
El ecosistema de Block logró un rendimiento récord durante el Black Friday y el Cyber Monday de 2024, procesando 144 millones de transacciones a nivel mundial, lo que representa un aumento del 17% en comparación con el año anterior. Las ventas en línea y en tienda crecieron un 21% y un 17% respectivamente, siendo el tamaño de los carritos en línea el doble que el de las compras en persona. Las ventas de tarjetas de regalo vieron un crecimiento del 29% interanual, con 450,000 tarjetas adquiridas. Las transacciones en restaurantes aumentaron un 12%, mientras que las transacciones de Afterpay para comprar ahora y pagar después crecieron un 10%. La Cash App Card, con 24 millones de usuarios activos mensuales, vio un aumento del 19% en las compras minoristas y del 46% en las compras de juegos. Las compras en redes sociales crecieron significativamente en un 139%, superando el crecimiento de las tiendas por departamento por 4 veces.
블록의 생태계는 2024년 블랙 프라이데이와 사이버 먼데이에 기록적인 성과를 달성하며 전 세계적으로 1억 4천4백만 건의 거래를 처리했습니다. 이는 전년 대비 17% 증가한 수치입니다. 온라인 판매와 오프라인 판매는 각각 21% 그리고 17% 성장했으며, 온라인 쇼핑 카트의 크기는 오프라인 구매의 두 배에 달했습니다. 선물 카드 판매는 전년 대비 29% 증가하여 450,000장이 구매되었습니다. 식당 거래는 12% 증가했고, 애프터페이의 지금 구매하고 나중에 결제 거래는 10% 증가했습니다. 캐시 앱 카드는 월 2,400만 명의 활성 사용자와 함께 소매 구매가 19%, 게임 구매가 46% 증가했습니다. 소셜 미디어를 통한 구매는 139% 급증하여 대형 매장 성장률의 4배를 초과하였습니다.
L'écosystème de Block a atteint des performances record lors du Black Friday et du Cyber Monday 2024, traitant 144 millions de transactions à l'échelle mondiale, soit une augmentation de 17 % par rapport à l'année précédente. Les ventes en ligne et en magasin ont augmenté de 21 % et 17 % respectivement, les tailles des paniers en ligne étant deux fois plus grandes que celles des achats en personne. Les ventes de cartes-cadeaux ont connu une croissance de 29 % d'une année sur l'autre, avec 450 000 cartes achetées. Les transactions dans les restaurants ont augmenté de 12 %, tandis que les transactions de Afterpay 'Achetez maintenant, payez plus tard' ont grimpé de 10 %. La Cash App Card, avec 24 millions d'utilisateurs actifs mensuels, a vu les achats de détail augmenter de 19 % et les achats de jeux de 46 %. Les achats sur les réseaux sociaux ont fortement augmenté de 139 %, surpassant la croissance des grands magasins par un facteur de 4.
Das Block-Ökosystem erzielte während des Black Friday und Cyber Monday 2024 außergewöhnliche Leistungen und verarbeitete 144 Millionen Transaktionen weltweit, was einem Anstieg von 17 % im Vergleich zum Vorjahr entspricht. Der Online- und der stationäre Verkauf stiegen um 21 % bzw. 17 %, wobei die Online-Warenkorbgrößen doppelt so groß waren wie die Einkäufe vor Ort. Der Verkauf von Geschenkkarten verzeichnete ein Wachstum von 29 % im Jahresvergleich, mit 450.000 gekauften Karten. Restauranttransaktionen stiegen um 12 %, während Afterpays Kauf jetzt, zahle später Transaktionen um 10 % zugenommen haben. Die Cash App Card, die 24 Millionen aktive monatliche Nutzer hat, verzeichnete einen Anstieg der Einzelhandelskäufe um 19 % und der Spielkäufe um 46 %. Einkäufe über soziale Medien wuchsen signifikant um 139 % und übertrafen das Wachstum von Warenhäusern um das 4-fache.
- Record 144 million transactions, up 17% YoY
- Online sales growth of 21% and in-store growth of 17%
- Gift card sales increased 29% YoY to 450K units
- Restaurant transactions up 12%
- Cash App Card retail purchases increased 19%
- Social media purchases grew 139%
- Gaming purchases through Cash App Card up 46%
- None.
Insights
The 17% year-over-year growth in Block's ecosystem transactions during Black Friday/Cyber Monday demonstrates robust consumer spending despite economic pressures. Key growth indicators include:
- Online sales up
21% with digital cart sizes 2X larger than in-store - Gift card purchases increased
29% , reaching 450K units - Social media purchases grew
139% , outpacing traditional retail channels
Block's record-breaking performance signals strong revenue potential for Q4 2023. The
Data from Block’s commerce brands shows growth and adoption across in-store, online, mobile, and social channels
DISTRIBUTED-WORK-MODEL/
Global Black Friday, Cyber Monday highlights:
- 3:10 am EST on Sunday, December 1 was the peak minute of shopping across the globe. In 2023, this was Saturday, November 25 at 2:17 p.m. EST.
-
Fastest growing cities in total spend included
College Station, Texas (USA),Woodbridge, Ontario (Canada ),Duluth, Georgia (USA),Montréal ,Quebec (Canada ), andFort Collins, CO (USA). - Saturday, November 30 was the most popular shopping day of the entire weekend.
- Shoppers are doubling down on digital channels with online cart sizes 2X larger than in-person carts.
-
Gift givers who aimed for the least stressful holiday shopping experience leaned on gift cards, making up 450K purchased this year, a
29% year over year growth. The most popular categories for gift card purchases were food and beverage, retail, leisure and entertainment, and beauty and wellness.
The average promotion offered to consumers over the notoriously discount laden weekend was
Square has also found that the holiday season goes beyond retail as shoppers dined out at local restaurants during the major weekend. Restaurant transactions were up
Mindful shoppers looked to alternatives to expensive credit cards, with Buy Now, Pay Later (BNPL) transactions through Afterpay increasing
American consumers are also turning to Cash App Card this holiday season to pay for gifts, with 24 million monthly actives using the debit card as of September 2024. Since last Black Friday and Cyber Monday weekend, top transactions made through the debit card included retail items, up
“The Black Friday and Cyber Monday weekend remains a critical part of the holiday sales season, but shopping habits are evolving. Today’s customers want optionality, whether it’s gifting tangible items or experiences, shopping in-person or online, or how they choose to pay. Across Block brands, we’re uniquely positioned to ensure sellers have access to world-class commerce solutions that adapt to today’s customer needs. And, to offer customers more choice and flexibility through various payment options. We’re expanding access to the economy and empowering both sides of the counter,” said Nick Molnar, Block Head of Sales.
Methodology:
All data presented are unaudited and subject to adjustment.
Black Friday and Cyber Monday: Square, Afterpay, and Cash App Card** analyzed millions of transactions across all seller industries globally in 2024 from November 29, 11:00 UTC to December 2, 23:59 UTC. All monetary metrics are displayed in USD. Countries include
*Block Consumer Spend Transactions is a metric Block’s Marketing Team uses to measure consumer spending across different businesses during busy periods such as Black Friday Cyber Monday. Block Consumer Spend Transactions includes all posted and pending credit card, debit card, and cash transactions at Square sellers, Cash App Card transactions, and Afterpay transactions. Block Consumer Spend Transactions does not represent Square GPV or overall Block GPV.
About Square
Square makes commerce and financial services easy and accessible with its integrated ecosystem of solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. For more information, visit www.squareup.com.
About Afterpay
Afterpay is transforming the way we pay by allowing eligible shoppers to buy products immediately and pay over time - enabling simple, transparent and responsible spending. We are on a mission to power an economy in which everyone wins. Afterpay is offered by thousands of the world’s favorite retailers and used by millions of active global customers. Afterpay is currently available in
About Cash App
Cash App is the money app. It’s the easy way to spend, send, and store money. Sending and receiving money is fast, and most payments can be deposited directly to an external bank account in just a few seconds. With Cash App, customers can also buy and sell Bitcoin instantly, get a paycheck deposited right to the app, create a unique $cashtag to share with anyone to get paid fast, and use the Cash App Card to spend the money everywhere Visa Debit is accepted. Download Cash App for free at cash.app/download.
**Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s external bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. Visa is a registered trademark of Visa International Service Association. All other trademarks and service marks belong to their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241203217041/en/
Source: Block, Inc.
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