{"id":792039,"date":"2024-12-03T10:17:03","date_gmt":"2024-12-03T15:17:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/square-afterpay-and-cash-app-surpass-records-this-black-friday-and-cyber-monday-with-144-million-transactions\/"},"modified":"2024-12-03T10:17:03","modified_gmt":"2024-12-03T15:17:03","slug":"square-afterpay-and-cash-app-surpass-records-this-black-friday-and-cyber-monday-with-144-million-transactions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/square-afterpay-and-cash-app-surpass-records-this-black-friday-and-cyber-monday-with-144-million-transactions\/","title":{"rendered":"Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions<\/b><\/p>\n<p class=\"bwalignc\"><i>Data from Block\u2019s commerce brands shows growth and adoption across in-store, online, mobile, and social channels<\/i><\/p>\n<p>DISTRIBUTED-WORK-MODEL\/SAN FRANCISCO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOver the Black Friday and Cyber Monday weekend, sellers using Block\u2019s ecosystem of commerce tools broke records with <b>144 million<\/b> Block consumer transactions globally, a <b>17%<\/b> increase from last year.* With over <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fafterpay-newsroom.yourcreative.com.au%2Fwp-content%2Fuploads%2F2024%2F09%2FFestive-Forecast-2024-VF.pdf&amp;esheet=54160916&amp;newsitemid=20241203217041&amp;lan=en-US&amp;anchor=1+in+3&amp;index=1&amp;md5=54686bbbeb938eeed7a96fe47cf1b0ce\">1 in 3<\/a> shoppers more stressed about holiday shopping this year compared to last, customers all around the world turned out in droves for the mega discounting weekend to save on gifts, shopping both online and in-store and driving increased sales on these channels by <b>21%<\/b> and <b>17%,<\/b> respectively. View the detailed look at Block\u2019s Black Friday, Cyber Monday 2024 results <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fblock.xyz%2Fbfcm%2F2024&amp;esheet=54160916&amp;newsitemid=20241203217041&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=5317ae65ae69389908a7d291a067f9c8\">here<\/a>.<\/p>\n<p><b>Global Black Friday, Cyber Monday highlights<\/b>:<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>3:10 am EST<\/b> on <b>Sunday, December 1<\/b> was the peak minute of shopping across the globe. In 2023, this was Saturday, November 25 at 2:17 p.m. EST.\n<\/li>\n<li>\nFastest growing cities in total spend included <b>College Station, Texas (USA), Woodbridge, Ontario (Canada), Duluth, Georgia (USA), Montr\u00e9al, Quebec (Canada), <\/b>and <b>Fort Collins, CO (USA).<\/b><\/li>\n<li><b>Saturday, November 30 <\/b>was the most popular shopping day of the entire weekend.\n<\/li>\n<li>\nShoppers are doubling down on digital channels with online cart sizes <b>2X<\/b> larger than in-person carts.<\/p>\n<\/li>\n<li>\nGift givers who aimed for the least stressful holiday shopping experience leaned on gift cards, making up <b>450K <\/b>purchased this year, a<b> 29%<\/b> year over year growth. The most popular categories for gift card purchases were <b>food and beverage, retail, leisure and entertainment, <\/b>and<b> beauty and wellness<\/b>.<\/p>\n<\/li>\n<\/ul>\n<p>\nThe average promotion offered to consumers over the notoriously discount laden weekend was <b>19% <\/b>at Square sellers, with online and in-store discounts averaging <b>20%<\/b> and <b>19%<\/b>,<b \/>respectively. To better reach sellers across channels, <b>12%<\/b> more businesses tapped into an omnichannel sales strategy.<\/p>\n<p>\nSquare 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 <b>12%<\/b>, while sellers aimed to attract customers through Black Friday and Cyber Monday discounts, with a <b>28%<\/b> growth in discounts redeemed this past weekend.<\/p>\n<p>\nMindful shoppers looked to alternatives to expensive credit cards, with Buy Now, Pay Later (BNPL) transactions through Afterpay increasing <b>10%<\/b> year over year. Millennials continue to drive Afterpay usage at <b>44%<\/b>, followed by Gen Z at <b>26%<\/b> and Gen X at <b>24%<\/b>. Beyond fashion and beauty, the largest Afterpay item categories were <b>personal care, household supplies, health care, gift cards, and office supplies<\/b> as consumers look to shop and pay flexibly on an array of gifting items.<\/p>\n<p>\nAmerican 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 <b>19%<\/b>,<b \/>and gaming purchases, up <b>46%.<\/b> Purchases made through social media, another popular shopping channel among young consumers, grew <b>139%<\/b>, outpacing <b>big box<\/b><b>and<\/b><b>department store<\/b> spending growth by <b>4X<\/b>.<\/p>\n<p>\n\u201cThe Black Friday and Cyber Monday weekend remains a critical part of the holiday sales season, but shopping habits are evolving. Today\u2019s customers want optionality, whether it\u2019s gifting tangible items or experiences, shopping in-person or online, or how they choose to pay. Across Block brands, we\u2019re uniquely positioned to ensure sellers have access to world-class commerce solutions that adapt to today\u2019s customer needs. And, to offer customers more choice and flexibility through various payment options. We\u2019re expanding access to the economy and empowering both sides of the counter,\u201d said <b>Nick Molnar, Block Head of Sales<\/b>.<\/p>\n<p><b>Methodology:<\/b><\/p>\n<p>\nAll data presented are unaudited and subject to adjustment.<\/p>\n<p>\nBlack 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 the United States, Canada, United Kingdom, Australia, Japan, France, Ireland, Spain, and New Zealand.<\/p>\n<p>\n*Block Consumer Spend Transactions is a metric Block\u2019s 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.<\/p>\n<p><b>About Square<\/b><\/p>\n<p>\nSquare 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 \u2013 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.squareup.com&amp;esheet=54160916&amp;newsitemid=20241203217041&amp;lan=en-US&amp;anchor=www.squareup.com&amp;index=3&amp;md5=0169125980b69ced46d373745924f5c1\">www.squareup.com<\/a>.<\/p>\n<p><b>About Afterpay<\/b><\/p>\n<p>\nAfterpay is transforming the way we pay by allowing eligible shoppers to buy products immediately and pay over time &#8211; 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\u2019s favorite retailers and used by millions of active global customers. Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, where it is known as Clearpay. Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE: SQ).<\/p>\n<p><b>About Cash App<\/b><\/p>\n<p>\nCash App is the money app. It\u2019s 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 <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fcash.app%2Fdownload&amp;esheet=54160916&amp;newsitemid=20241203217041&amp;lan=en-US&amp;anchor=cash.app%2Fdownload&amp;index=4&amp;md5=2c5a3e644601f9b044154c047daac7da\">cash.app\/download<\/a>.<\/p>\n<p><i>**Cash App is a financial services platform, not a bank. Banking services provided by Cash App\u2019s 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.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241203217041r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20241203217041\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241203217041\/en\/<\/a><\/span><\/p>\n<p><a rel=\"nofollow\" href=\"mailto:press@block.xyz\">press@block.xyz<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Retail Online Retail Technology Professional Services Payments Electronic Commerce Retail Software Internet Fintech Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions Data from Block\u2019s commerce brands shows growth and adoption across in-store, online, mobile, and social channels DISTRIBUTED-WORK-MODEL\/SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; Over the Black Friday and Cyber Monday weekend, sellers using Block\u2019s ecosystem of commerce tools broke records with 144 million Block consumer transactions globally, a 17% increase from last year.* With over 1 in 3 shoppers more stressed about holiday shopping this year compared to last, customers all around the world turned out in droves for the mega discounting weekend to save on gifts, shopping both online and in-store and driving increased sales on these channels by 21% and 17%, respectively. View the detailed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/square-afterpay-and-cash-app-surpass-records-this-black-friday-and-cyber-monday-with-144-million-transactions\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-792039","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/square-afterpay-and-cash-app-surpass-records-this-black-friday-and-cyber-monday-with-144-million-transactions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Square, Afterpay, and Cash App Surpass Records This Black Friday and Cyber Monday With 144 Million Transactions Data from Block\u2019s commerce brands shows growth and adoption across in-store, online, mobile, and social channels DISTRIBUTED-WORK-MODEL\/SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; Over the Black Friday and Cyber Monday weekend, sellers using Block\u2019s ecosystem of commerce tools broke records with 144 million Block consumer transactions globally, a 17% increase from last year.* With over 1 in 3 shoppers more stressed about holiday shopping this year compared to last, customers all around the world turned out in droves for the mega discounting weekend to save on gifts, shopping both online and in-store and driving increased sales on these channels by 21% and 17%, respectively. 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