The South African banking sector experienced a slight rise in e-commerce sales during the Black Friday weekend, with online shopping volumes increasing by 27% compared to the previous day and 6% higher than in 2023. BankservAfrica provides insights into these trends.
The South Africa n banking industry observed a modest growth in e-commerce sales during the Black Friday shopping period. According to data from online payment platforms and card-not-present transactions, e-commerce was relatively higher during this year’s bargain-hunting weekend compared to 2023. BankservAfrica, an automated payments clearing house, reported a 27% increase in online shopping volumes on Black Friday compared to the previous day and a 6% increase compared to Black Friday 2023.
The analysis suggests a mix of factors influenced shopping patterns, including payday timing and early promotions
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