Average customer check for Black Friday is forecasted at UAH 23-24 000 level - OTP Bank expert
The average check of bank customers during Black Friday 2023 for credit purchases is forecasted at the level of UAH 23-24 thousand. Ruslan Boyko, the head of the sales management department in the national networks of OTP Bank, said this during the "Black Friday: Does festive consumer lending exist during the war" round table organized by the Financial Club.
"In 2021, the average check for a credit purchase amounted to UAH 18 thousand, in 2022 it decreased, although prices increased. And in 2023, it will be 23-24 thousand hryvnias," forecasted R. Boyko.
He noted that the most recent peak year for sales was 2021, and in the previous year, 2022, Black Friday passed almost unnoticed - due to blackouts and mass shootings, demand froze. But since the summer of 2023, the sales volumes of many of the bank's retail partners have almost recovered to the levels of 2021, mainly due to the increase in the price of goods (inflation, exchange rate). At the same time, the market was still operating with a 25-30% drop in the number of goods sold.
“This Black Friday will be longer. There is light, so we are currently targeting that there will be sales, and 2023 will be "shocking". It is also noteworthy that in 2021, the share of goods purchased on credit was higher - about 40%. Now it is somewhat lower, around 30%, but in recent months there is a constant trend of increasing it due to promotional loan offers," emphasized R. Boyko.
He reminded that in addition to the ability to remotely sign loan agreements in the OTP Bank UA application, the bank has a network of credit specialists in retail partner stores. "So a client who does not have a sufficient limit or a card limit at all at an offline point of sale, and there are quite many of them, will be able to make a purchase on credit on the spot," said R. Boyko.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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