There has been some debate around whether Black Friday is relevant in South Africa, especially given the consumer’s stretched budget in 2021 – which was put under further pressure last week as the repo rate rose to 25 basis points.
However, a consumer survey carried out by Game Stores found there may even be growth in the number of South Africans purchasing deals this year.
Sixty-three percent of consumers believe that the annual retail event is relevant to them, with 43% saying they did not shop Black Friday deals last year but intend to do so in 2021.
Of those who did shop last year, 17% said they expected to spend a similar amount this year, while 9% expected to spend about 25% more.
“Thus far, the uptake on our month-long Black November promotion has been promising, with consumers investing in TVs, appliances, electronics and outdoor and exercise equipment. There is usually an uptick in the number of consumers shopping deals in the last week of the month, especially after pay day,” says Andrew Stein, vice-president of Game.
He notes that Game’s consumer research throughout the last 18 months has shown the growing importance of bargain hunting among local consumers, and a trend toward buying essential goods.
The data shows that saving is incredibly important to the country’s consumers. Fifty-two percent said their main reason for shopping Black November deals is a stretched budget, which means getting discounts on their needs and wants makes sense for them; 21% said the deals were worth the wait; and 20% said they are bargain hunters year-round, and love to see what kind of deals are on shelves at this time.
While 28% of survey respondents said they look to see what is on sale at any retailer during the period, the majority (42%) are planning their purchases carefully – focusing in on their needs.
No matter how and where they are looking to shop, however, one thing remains true: nine out of 10 South African consumers are comparing Black Friday prices and deals.