Black Friday is upon us, and as the powers that be would have it, it falls on payday for most South Africans.
Armed with a full salary after deductions, the urge to splurge will be the strongest today.
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We love a good Black Friday special
The statistics show that South Africans love a good Black Friday special, with BankservAfrica finding that the total value of 2021 Black Friday transactions was a mammoth R3.3 billion – a 17% increase from 2020.
According to PayU, SA’s shopping volume was up 36.64% in the four days leading up to Black Friday last year.
Transaction values and online shopping volumes on the day were up 30% from 2020 to 2021, with consumers spending a whopping R17 million in just an hour on Black Friday itself.
ALSO READ: Checkers vs PnP as Black Friday battle kicks off
But the reality of a harsh financial climate and the lingering effects from the Covid-19 pandemic saw online basket sizes drop by 22% year-on-year.
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This year insurance service provider, Budget, is arming cash-strapped consumers with a game plan to take advantage of Black Friday mania- without blowing the bank.
