BankservAfrica reveals just how much South Africans love Black Friday
South Africans say "What struggling economy?" with a 36 percent growth in Black Friday transactions.
Automated clearing house BankservAfrica has published its Black Friday and Cyber Monday data, showing that South Africans shopped up a discount storm.
“Black Friday did not disappoint. Despite the tougher economy, it seems South Africans took advantage of the day’s special deals with in-store and online transaction volumes reflecting strong year-on-year growth. Both days have certainly made their mark amongst local retailers and shoppers,” says Solly Bellingan [pictured], head of customer relations at BankservAfrica.
The total number of in-store and online Black Friday transactions processed by the clearing house in 2019 came in at 7,077,117, a 36 percent increase on 2018’s 5,204,594. Shoppers spent R6 billion, an increase of 106 percent on the R2,9 billion spent in 2018.
Cyber Monday showed a 42 percent growth in online transactions, reaching a volume of 249,908 in 2019, an increase of 2018’s figure of 176,595.
The biggest Black Friday transaction was a whopping hospitality purchase of R10,067,400 by an international company.