Banking on escalation of shopping craze
JOHANNESBURG – The Black Friday craze, which first engulfed South Africa five years ago, is expected to be even bigger this year, as customers have become savvier and retailers have gone all out to entice consumers to spend their hard-earned money.
Black Friday is an American shopping marketing gimmick that takes place a day after Thanksgiving and has become an important date in South Africa’s retail calendar.
In conjunction with Cyber Monday, which also originated in the US, Black Friday has become a revenue driver for local retailers and has helped cash-strapped consumers take advantage of massive discounts.
South African shoppers spent R3billion on Black Friday in 2018 and experts are expecting nothing less this year.
Yesterday research by short-term lender Wonga revealed that South Africans would each incur an average of R6585 in festive expenses this summer, over and above their usual budgeted expenses.
Source: iol.co.za
