While Black Friday may have originally started in the US, its worldwide popularity has soared in recent years with countries across the globe getting in on the action.
However, research has shown that the Black Friday phenomenon has grown faster in South Africa than any other country in the world.
Black Friday traditionally kick-starts the holiday shopping season. In South Africa, it has snowballed into a whirlwind of big-ticket discounts across all categories, making it the most popular time of the year to splurge.
In the past year, a couple of popular South African retailers’ pricing and advertising has come under scrutiny, making it even more important for consumers to ensure they do their homework before spending on any big-ticket items this Black Friday.
According to PriceCheck chief executive Chloe Lötter, comparison tools are just as important to retailers as they are to consumers, particularly during periods of increased online spending such as Black Friday and Cyber Monday.
Online retail is projected to reach 1.4 percent of total retail in South Africa, based on an estimated R1 trillion to be spent via traditional channels in 2018, according to findings of the Online Retail in South Africa 2019 study, conducted by World Wide Worx with the support of Visa and Platinum Seed.
“With the large discounts and small margins over the November period, retailers should rather look to use Black Friday as an opportunity to acquire new users, reactivate dormant users, and delight existing customers,” said Lötter.
While many consumers are prone to spend more impulsively on Black Friday, Lotter cautions that they do their homework and remain vigilant. She advises to watch out for fraudulent offers, always use safe payment methods, ensure the product is in stock, take note of delivery and return policies, and keep an eye out for hidden costs.
With more than 16 million products to search and compare from more than 550 of South Africa’s trusted retailers, it’s hard to argue with this logic.
How to get the best Black Friday deals:
Pre-Black Friday survivor’s guide:
Content supplied by PriceCheck/BUSINESS REPORT.