One week on from the Black Friday sales event, the jury is in on just how big it was – and which ASX stocks benefited.
Black Friday has grown bigger and bigger each year and 2020 was no exception, particularly online.
This morning Australia Post revealed that 2.2 million households shopped online during the Black Friday weekend, up 42 per cent from last year.
The most popular items were home and garden items and fashion and apparel goods, up 50 per cent and 41 per cent year on year. Major and discount stores and pet products both gained 80 per cent.
For Australia Post, that means the biggest boom in its history.
“This week is shaping to be our busiest ever; from Monday, we’ll deliver more than 13 million parcels in total – almost three million more than the same week last year,” declared Australia post-executive Gary Starr.
ASX stocks that won from Black Friday
2020 was already a booming year for several ecommerce companies but Black Friday took things to the next level for a handful of ASX stocks.
Buy now pay later stocks were beneficiaries too and particularly vocal about it. Industry players Afterpay (ASX:APT), Sezzle (ASX:SZL), Splitit (ASX:SPT) and Zip Co (ASX:Z1P) all confirmed record Black Friday weekends.
The industry’s largest stock Afterpay led the charge, more than doubling its monthly sales volume for November from $1 billion to $2.1 billion.
Sezzle was next, with underlying sales totalling US$113 million – nearly triple what it made 12 months ago.
Among ASX ecommerce plays, only a handful commented about Black Friday.
One beneficiary was recently listed MyDeal (ASX:MYD) which saw record monthly gross sales of approximately $30 million in November.
Another was Shaver Shop (ASX:SSG) which didn’t single out Black Friday but noted across FY21 so far total sales are up 19 per cent and online sales are up 137 per cent.
Rounding out the list is online book store Booktopia (ASX:BKG) which only listed yesterday. It expects the entire Christmas shopping season, that began on Black Friday and will finish on Boxing Day, to be its biggest ever.