Dr Christoph Nieuwoudt, CEO of FNB Consumer says, “Black Friday is a trend that is definitely gaining momentum across consumers and retailers. While it’s too early to quantify the impact and the general consumer experience around this year’s Black Friday, the following observations were immediately apparent.”
• E-commerce is gaining momentum - While many consumers woke up early to queue outside their shopping mall or retailer, the popularity of online stores was equally prevalent, reflecting the growing appetite for shopping online among SA consumers.
• Growing popularity - The days of Black Friday being a ‘foreign concept’ are fast fading as both consumers and retailers are increasingly using this period to cash-in on bargains and boost sales respectively.
• Planning is everything - The queues observed in some of South Africa’s retail centres gave an immediate indication that consumers who didn’t plan their shopping experience may have faced a struggle to get all the goods they desire as they would have spent a significant amount of time waiting in line.
“Looking [at] Cyber Monday, consumers will be looking to make a last-ditch attempt to stock-up on any gadgets they may have missed out on over Black Friday. We encourage consumers to spend wisely and not go overboard as the festive season has only just begun,” concludes Nieuwoudt.
