How consumers shopped on Black Friday

Welcome to Moola Matters with Ina.
This year's Black Friday weekend was expected to bring in record sales and consumers did not disappoint: the highest single transaction reflected on digital payment platform Ozow’s dashboard amounted to an eye watering R818 000.
According to Payfast's Black Friday data, one shopper paid more than R627 000 on a single purchase. Consumers were expected to spend about R7 billion more this Black Friday, despite battling to make ends meet as many of them saved up to spend their money on household essentials and other necessities.
Research by the Bureau of Market Research conducted on behalf of retail finance provider Capital Connect, indicated that Black Friday spending was expected to increase from R19 billion in 2022 to R26.6 billion this year.
What did consumers spend their money on and how much did they spend?
Today I chat to Tumelo Ramugondo, head of Credit Card at Standard Bank SA to find out how Black Friday went for South African consumers.
29 Nov 2023 English South Africa Business · Business

Other recent episodes

How to prevent Januworry this December

Consumers can prevent January turning into Januworry this December if they watch their spending and if they spend, spend their money the right way. This is especially important seen that some people will get bonusses in the next week. South Africans are coming out of a year of tight economic…
11 Dec 2023 17 min

Black Friday: To buy and what to buy

The latest Debt Rescue survey reveals how financially distressed most South African consumers are, with a staggering 70% of them saying this Black Friday they will focus on hunting for deals that will put more food on the table and help them to stock up on necessities such as toiletries,…
21 Nov 2023 13 min


The cost of living in South Africa is high and so many consumers are struggling to make ends meet. Food prices are soaring. Housing costs are escalating. We are paying more for water and electricity. Then we still have to pay for education and healthcare, but our salaries do not…
1 Nov 2023 20 min

Buying all your insurance online

Insurance has become a hot topic over the past few years. During the pandemic consumers saw how important it was to have life insurance, medical insurance and funeral insurance for yourself and for businesses, to have business interruption insurance to cover the time businesses had to close due to the…
16 Oct 2023 20 min

Talking about financial security across generations

Welcome to Moola Matters with Ina. It can still be a challenge for many South African families to talk about wealth and securing it across generations. International research suggests that family wealth rarely lasts more than three generations for the simple reason that families do not talk about money or…
18 Sep 2023 19 min