FNB debit and credit card holders made over R2,5-billion worth of purchases during last year’s Black Friday.

FNB retail chief executive Raj Makanjee says: “We expect the value of Black Friday transactions to rise by 16% this year. When comparing typical Friday spend to Black Friday, we usually see a 100% increase in spend by customers.

“We encourage consumers to be mindful that Black Friday is effectively the start of a very long festive season, therefore it’s important to plan for it properly and budget for purchases.

“Those participating should also consider making purchases for Back to School necessities to ease possible financial pressure at the beginning of next year.”

Christoph Nieuwoudt, CEO of FNB Consumer, comments: “Increasingly, consumers are choosing convenient ways to shop on Black Friday. Last year, online and in-app transactions on Black Friday grew by 26% while card present transactions saw a 14% increase.

“We estimate card present transactions to make up the majority of consumer spend this year, but also expect consistent growth in online and in-app purchases.

“Currently, online merchants continue to be in the top 10 of retailers where FNB customers prefer to spend on Black Friday.”

The eBucks Shop was among the top online retailers where FNB customers bought discounted goods and services during last year’s Black Friday.

“We encourage customers to minimise reliance on cash, especially for larger purchases. More importantly, by enabling consumers to tap or scan to pay, retailers can process transactions faster, reduce queue times and the risk of basket abandonment,” adds Makanjee.