How consumers shopped on Black Friday
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.