South African consumers showed a significant spending surge during Black Friday week, despite economic downturn.

South African consumers saw a significant boost in spending during this year's Black Friday week, with purchases surging 112% on Tuesday and 32% on Cyber Monday, despite the economy shrinking by 0.3% in the third quarter. Ecentric Payment Systems, which processes 20% of the nation's card transactions, noted a rise in online shopping and higher average purchase values. FNB reported an 11% increase in customer spending, reaching over R3.2 billion, with strong growth in groceries, clothing, and entertainment.

December 05, 2024
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