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79: That's how many times one shopper decided to swipe on Black Friday

South Africans spent more this Black Friday than in 2020, say banks

The highest number of transactions by an individual on Black Friday was 79.
The highest number of transactions by an individual on Black Friday was 79.
Image: Shonisani Tshikalange

Black Friday spending increased this year compared to 2020, according to two leading SA  banks.

FNB said its data showed spending increased by 19% year-on-year with transactions worth more than R2bn processed on its Speedpoints. FNB card holders made purchases in excess of R2.5bn on Black Friday, an increase of 15% compared to 2020.

Standard Bank head of card payments Nelisa Zulu said customers did most of their shopping on Black Friday while still seeing value in the days before November 26.

“South African consumers have been hard-pressed in the past year-and-a-half, but we have seen an increase in volume and value spent over this time when compared to last year. Online purchases have also seen very healthy volume increases,” she said.

Total card transactions for Black Friday 2021 increased by 17% compared to the same period last year, with the average value of transactions up by 13%.

The highest number of transactions made by an individual was 79, with the most expensive transaction being R450,010, said Zulu.

Black Friday saw a 61% increase in virtual card transactions at Standard Bank, equating to  a 28% increase in value transacted compared to last year.

“Although lockdown restrictions have eased, consumers are still wary of large crowds and many people have now become more comfortable with online shopping. This shift from traditional to online retail was impacted by Covid-19 and the need for safer, more convenient ways of purchasing groceries and essentials, which resulted in phenomenal growth for e-commerce,” the bank said.

FNB CEO Jacques Celliers said: “Our stats also show heightened shopping activity beyond Black Friday, with transactions for November up 25% compared to the same month in 2020. It’s exciting to see consumers and businesses actively taking part in economic activity despite the challenges posed by the pandemic.”

FNB Merchant Services CEO Thokozani Dlamini said: “During this year’s Black Friday, we recorded a peak of 490 transactions per second, an improvement compared to 2020, but on par with volumes processed in 2019.

“In the past three years, Black Friday has been the biggest shopping day of the year in SA, and we expect this trend to continue, considering the effort retailers make to attract willing buyers.”

FNB Card CEO Chris Labuschagne said: “The recovery in spending is a sign that households are gradually finding their feet in what has been a difficult 18 months due to Covid-19 and the lockdown. While Black Friday is usually the peak shopping period, Cyber Monday has been equally popular in recent years. As a result, we expect to see customers taking advantage of any specials on tech or digital products.”

TimesLIVE


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