Zilch commerce sales more than double compared to Black Friday 2023
Travel spending soars with consumers targeting holiday bargains
Black Friday electronics spending jumps 140%
London, 5 December 2024 – Zilch, the fintech payments innovator of the world’s first ad-subsidised payments network (ASPN), releases data today showing the full impact of a record Black Friday that saw its sales more than double compared to the previous year.
Black Friday bargains drove a 116% year-on-year growth in sales, with 93% year-on-year growth following on Cyber Monday. The figures underline the power of Zilch’s network to connect its 4 million users to great deals.
Travel spending was the surprise standout category on a day best known for delivering deals on consumer goods, as Zilch users spent more than ever on securing getaways with flights and spa breaks proving the most popular subcategories.
The fastest-growing payment method was the recently-launched ‘Pay over 3 months’ option, providing a more flexible way to spread the cost for bigger-ticket purchases.
- Product categories showing the fastest growth compared to Black Friday 2023 were electronics (+140%), travel (+127%) and health and beauty (+125%)
- Retailers’ advertising spend with Zilch increased 135% over Black Friday week this year compared to 2023
- The peak trading minute for brands was 12:02 on Black Friday
eBay was among the retailers benefiting from the Black Friday surge.
Rebecca Mangaroo, EPN Partnerships Lead, United Kingdom, eBay, said: “eBay has been working with Zilch for over three years and we are over the moon with the volume and quality of sales generated. As a key affiliate, Zilch is dedicated to providing customers a unique and invaluable service to help spread out their purchases without accruing any interest or late fees – helping everyone to shop worry free. Most impressive is the performance during this peak period compared to last year: we saw an incredible year-on-year increase in GMV of 118%. Truly impressive.”
Andreas Andreou, Chief Revenue Officer at Zilch, said: “On Black Friday, Zilch delivered a 116% year-on-year increase in commerce for our retail partners, while saving customers millions in future late fees and interest payments. Accelerated by our product innovation and continued record ad-spend on our Ad-Subsidised Payments Network.”
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Notes for Editors
About Zilch
Zilch’s vision is to eliminate the high cost of consumer credit. For good.
Zilch is a multi-award-winning pioneer of the world’s first direct-to-consumer, ad-subsidised payments network (ASPN). Leveraging its unique, vertically integrated, first-party-data business model, Zilch sets itself apart from the incumbent fintech industry with a profitable global revenue source, bringing unrivalled value to customers and marketers alike. Today Zilch is revolutionising the $50 trillion advertising and payments industries by merging the very best of debit, credit, and savings.
Co-founded by Philip Belamant, Sean O’Connor, and Serge Belamant, Zilch provides millions of customers the freedom to go anywhere in the world (online or offline) and, when they pay, earn up to 5% cashback & rewards on debit payments (‘Pay Now’) or spread interest-free credit repayments over six weeks or three months. In the process, Zilch helps customers build their credit profiles with the major credit agencies. Within 44 months of launch in 2020, Zilch amassed more than 4 million registered customers.
In September 2024, four years after its public launch, Zilch announced that in July 2024 it had achieved first-month profitability in record time while surpassing $130 million of revenue run rate, keeping pace with European fintech giants like Revolut, Starling Bank, and Monzo.
In 2023, Zilch launched its proprietary ASPN service, which allows merchants worldwide instant connection with Zilch’s first-party-data, closed-loop network of millions of high-intent customers, while offering customers personalised savings, deals, and discounts codified to their habitual daily spend.
In January 2023, Zilch struck a ground-breaking reporting agreement with the UK’s prime credit reference agencies, transforming the UK lending ecosystem by enabling all adults to build their credit records using interest-free credit rather than high-cost revolving credit products.
Since April 2020, Zilch has been regulated by the Financial Conduct Authority (FCA), obtaining a consumer credit licence through the Regulatory Sandbox Programme.
Driven by innovation and a commitment to excellence, Zilch is setting new benchmarks in the industry to create a more inclusive and efficient ecosystem, empowering millions of users to budget and manage their financial lives more effectively and transparently.
For more information, visit: www.zilch.com.
Contacts
Zilch – Ryan Mendy, Chief Communications Officer: [email protected]
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