Black Friday in South Africa Archives

NIQ South Africa has released its latest State of the Retail Nation analysis for the first nine months of 2024, showing healthy revenue prospects for the FMCG and Tech & Durables retail sectors. The report highlights a positive shift in consumer sentiment throughout the year, setting the stage for healthy sales growth during the Black Friday and festive season periods. NIQ’s data shows that 42% of South African consumers believe they are in a better financial position than they were a year ago. However, higher costs of living, low wage growth and unemployment continue to be a challenge for many. Among the 33% that report they feel worse off, the reasons for this sentiment included increased living costs (80%), the economic slowdown (54%), and concerns regarding job security (39%). Z...

Despite the continued reports about the tough economic environment facing South African consumers and the fact that disposable income is steadily decreasing, South Africans are still enjoying Black Friday sales. Statistics released by First National Bank show that over R2.4 billion was spent in-store during 2022 Black Friday sales, while R670 million was spent on online sales. FNB reports that the value of online purchases (where a card was not present) increased by 31% compared to 2021 black Friday sales, while in-store spending increased by 18%. While consumers are trying to find the best way to stretch their Black Friday budget, the Southern African Fraud Prevention Service (SAFPS) warns that scammers are very active during this period. "The increases presented by FNB show active part...

Tag: Black Friday in South Africa

State of the Retail Nation Q3: Consumer confidence starts to recover ahead of Black Friday

Top scams to watch out for as you enjoy this year’s Black Friday sales