Black Friday electronic transactions increase 35% from 2018 – PwC
DURBAN – There is no comprehensive data collected in South Africa about total spending volumes and values for Black Friday and Cyber Monday according to PwC.
First National Bank (one of the country’s commercial banks) commented early on that merchants using its facilities had processed 40 percent more transaction by 14:00 on Black Friday compared to the same day in 2018.
Payments service provider DPO South Africa and automated clearing house BankservAfrica both reported a 35 percent increase in transaction volume during the eight-day period ending on Monday, December 2.
Admittedly, these numbers represent electronic (card and EFT) transactions only and excludes cash purchases, layby arrangements, and contracts signed for instalment payments (e.g. mobile phone services).
As a result, it is not possible yet to get a firm estimate of the rise in total value in rands spent over the shopping period – apart from suggesting a big increase.
Source: iol.co.za