Black friday FNB

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Black Friday 2019: FNB predicts that customers will spend R3 billion

South Africans spent more than R2.5 billion during Black Friday last year, and FNB predicts that we’ll spend even more this year.

Black friday FNB

Image via Unsplash

The clock is counting down to Black Friday on 29 November and South Africans are busy making their lists, checking it twice and adding items to online shopping carts. And FNB says we’re going to spend a lot this year.

South Africans are estimated to spend close to R3 billion this year, based on the sales data collected during Black Friday 2018 and a predicted increase of 26% in online purchase for this year.

Online versus in-store

As reported by Business Link, Christoph Nieuwoudt, CEO of FNB Consumer, said that South Africans are well and truly embracing the benefits – and disadvantages – of shopping online.

“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.”

Nieuwoudt estimates that card transactions will make of the majority of sales this year, with a “consistent growth in online and in-app purchaces” as well.

Online mercharts (Takealot, for example) remain in the top 10 retailers of choice for FNB customers, based on the amount of discounted goods purchased during Black Friday 2019, Nieuwoudt said.

Black Friday mindful spending

FNB Retail Chief Executive, Raj Makanjee explained that, when comparing typical Friday spend to Black Friday, they “see a 100% increase in spend by customers.”

Makanjee urged consumers to be “mindful that Black Friday is effectively the start of a very long festive season”, and emphasised the importance of planning properly and sticking to a budget.

He suggests spending the money on Back To School purchases instead, as it will “ease possible financial pressure at the beginning of the next year.”

Tap, tap, pay on Black Friday

Thanks to the various payment alternatives on the market today, FNB customers can pay for purchases by either tapping their contactless enabled FNB cards, or via Fitbit Pay, Samsung Pay, Garmin Pay, and the like.

“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.”

FNB Retail Chief Executive, Raj Makanjee

In addition to getting as many sales as they possibly can, some retailers are spreading specials over two or three days before and after Black Friday.

Black Friday specials

Are your fingers itching to spend some of your hard-earned money on Friday 29 November, but you still have no idea where to start? Well then, you’ve come the right place.

Why not start your Christmas shopping a month in advance? You can find a few suggestions for the tech lovers in your life here, or enjoy a sneak preview of Takealot’s Blue Dot Sale here.

If travel is your game, satisfy your wanderlust with these Black Friday travel deals, while this nifty guide will tell you everything you need to know about snagging the best travel bargains.

Want to be the sensible person here and fill your pantry up ahead of the new year? No problem! Find all the best deals from Woolworths, Checkers, Pick ‘n Pay and Spar here.

Also read – Black Friday 2019: The best deals from Takealot, Makro and the iStore