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...