Amid the excitement of Black Friday deals, South African consumers are flocking to malls to secure limited-time deals. With the rising cost of living and high unemployment rates, shoppers are being encouraged to carefully assess their affordability and make prudent spending decisions. According to Capital Connect, Black Friday sales are projected to inject over R88 billion into the economy in November 2024.
Amid the excitement of Black Friday deals, South African consumers are flocking to malls to secure limited-time deals. With the rising cost of living and high unemployment rates, shoppers are being encouraged to carefully assess their affordability and make prudent spending decisions.
Some retail stores participate in the annual popular shopping spree event, offering special deals and discounts.According to Fintech Company Capital Connect, drawing on insights from the Bureau of Market Research, the Black Friday sales frenzy is projected to inject over R88 billion in additional economic value into November 2024.
Dr Jammine advises consumers to carefully consider their motivations before making a purchase to avoid overspending. He also offers practical advice for shoppers planning discounted purchases, advising them to factor in the interest costs when borrowing money for sales items.Clinical Psychologist Professor Saths Cooper says Black Friday’s allure stems from heavy advertising, social influence, and the psychological thrill of finding discounts, creating a sense of beating the system.
BLACK FRIDAY SHOPPING SOUTH AFRICA COST OF LIVING ECONOMIC IMPACT
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