Black Friday hits the property market
Developers offer discounts and added value to buyers
Over the past couple of years, Black Friday has become more popular among South Africans. More consumers now look forward to this originally American concept, where significant discounts are offered on all types of retail goods and services.
The benefit to consumers is increased value, as they get to enjoy discounted prices and deals on products and services. For producers, the benefit results in added transaction and revenue volumes. The downside of Black Friday sales and discounts is the inevitable over-indulgence in purchases that leave consumers indebted and having to pay off items that diminish in value over time. At a time such as this, where the average consumer’s income has shrunk and businesses are having to survive the pandemic, one wonders if consumers and producers can afford a Black Friday indulgence...