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South Africans spent 52% less on Black Friday in 2020

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Spending on Black Friday has fallen by 52% this year compared to last year and most South Africans who did win bargains last Friday used their credit cards to pay for it.

The payment clearing company BankservAfrica revealed that the recent Black Friday showed its weakest annual growth in the four years that the company has been collecting data on that day.

The company’s data show that the number of transactions on Black Friday dropped by 33% this year. R2.9 billion was spent on that day, although South Africans spent R6 billion on Black Friday last year.

A total of 25,450 transactions were reported by 06:00 last Friday. This is 82% less than 27 November 2019, when 139 684 had already passed by 06:00.

“South Africans went shopping later than usual as some shops did not open at midnight, like last year. Some retailers also had special offers during November to avoid the long queues on Black Friday, ”says Martin Grunewald, business manager at BankservAfrica.

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