Black Friday South Africa Archives

17Nov

By Africa BusinessNo Comments

African News

SAFPS Warns: Technology is Emerging as a Major Battleground in the Fight Against Fraud

International Fraud Awareness Week is a global annual event dedicated to raising awareness about the widespread issue of fraud and showcasing the efforts across various sectors to combat this growing challenge. This year it takes place from November 17 to 24. "The role technology plays in fraud, and scams is becoming particularly challenging in South Africa," says Nazia Karrim, Head of Product Development at the Southern African Fraud Prevention Service (SAFPS), “with South Africa growing into an increasingly connected society, online fraud is a significant challenge that needs to be addressed." Be Careful of Business Email Compromise (BEC) The increased nature of technology-based fraud is evident in the recent statistics accompanying it. This is a significant challenge for companies th...

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

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...

Real-time data tracks considerable growth in Black Friday and Cyber Monday spend

CAPE TOWN - Hot on the heels of yet another interest rate increase adding more yet squeeze on businesses and consumers alike, South Africans showed they still have an appetite for retail spending, with data from leading omnichannel payment solutions provider Ecentric Payment System’s 2022 Black Friday Payment Gateway Dashboard showing whopping increases in both transactions volume and value, when compared to 2021. By 1 pm on Cyber Monday, total transaction value had grown 305,36% compared to the same time the year before. This was not isolated to Cyber Monday, as the transaction value growth on midnight after a full Black Friday was 212,11% up compared to the year before. Total transaction volume by 1 pm on Cyber Monday had grown by 59,36% over the previous year by midday, having grown 1...