Overall spending values and volumes on Black Friday in South Africa declined or remained relatively flat compared to last year's promotion. Shoppers were more strategic in their buying decisions due to increased economic pressures.
There were several shoppers in South Africa who spent hundreds of thousands of rands during Black Friday 2023. According to data from most major banks and big payment gateways, overall spending values and volumes on Black Friday itself declined or remained relatively flat compared to last year’s promotion.
Shoppers were more measured in their buying decisions due to increased economic pressures and took a more strategic approach to bargain hunting, according to The payments platform saw the average shoppers’ basket value decline from R1,689 to R1,364 on Friday. Absa head of card issuing at Everyday Banking, Tshipi Alexander, said that although marketing of Black Friday specials was more extensive and significant than in previous years, consumers had become far more strategic and discerning about their spending, and were not as easily convinced to trust a discount at a retaile
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