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A newly released study projects that South Africa’s wholesale, retail, and fuel sectors will generate an additional R88 billion for the economy during the Black Friday “month” of November.
Research by the Bureau of Market Research suggests that retailers alone will generate R22 billion in direct revenue due to Black Friday sales, according to a BusinessTech report.
The annual shopping bonanza generated R116.1 billion in 2023 and is expected to grow to R136 billion this year.
What is interesting to note is that the traditional Black Friday demographics of tech-savvy shoppers between the ages of 18 and 35 and budget-conscious households are shifting their focus to pre-loved items.
According to Craig Lubbe, Head of Marketplace at South African ecommerce ecosystem Bob Group, the country is starting to reflect the global trend towards sustainable shopping.
“Many shoppers are open to quality, gently-used items alongside brand-new ones, combining cost-savings with an eco-conscious approach,” Lubbe explains.
Whether people buy new or pre-owned, Lubbe says consumers should generally look for excellent deals the week before Black Friday, as this is typically when the best deals are available.
“Some deals may last until Cyber Monday, but high-demand products often sell out quickly, so planning and acting early is key.
“Set a clear budget and list priority items to avoid impulse purchases. You should also use online tools or set up alerts for specific items when they ‘drop’ to ensure you don’t miss great offers on the products you care about.”
In recent years, social media platforms like Instagram and Facebook have become famous for Black Friday deals offered by individual sellers.
However, Lubbe warns that people relentlessly pursuing good deals can find themselves preyed on by scammers.
“Scams spike the week leading up to Black Friday, as attackers know people are looking for deals. Consumers should be especially cautious around adverts or emails claiming exclusive access or steep discounts.
“Phishing emails and fake social media posts are common during this time, so we advise shoppers not to click on links from unknown sources.”
Scams can also involve “bait-and-switch” offers, where unscrupulous merchants only advertise products at extreme discounts to sell a different, lower-quality item.
“To avoid these traps, shoppers should look for clear return policies and reviews and it is generally a good idea to shop with trusted platforms that are well-known.
Another Black Friday scam is the fake “out-of-stock” claim. Lubbe explains that some retailers will claim a product is out of stock at a discount but available at a higher price. He advises verifying the situation with reputable stores and examining competing offers.
“Always check the spelling in a retailer’s URL, ensure it has an SSL certificate (look for “https” and a padlock symbol), and be wary of deals that seem too good to be true.”
Check the retailer's return policies and consider verifying the credibility of a website through its contact details and its terms and conditions – physical addresses, customer service numbers, and clear information about policies – is a must before adding anything to a cart from a lesser-known retailer.
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