Publications
Partners
Cape Town - Fin24 took to the streets of Cape Town to find out if shoppers thought indebted South Africans should be spending any money on Black Friday.
Everyone knows that Black Friday brings great deals, but do they know where it comes from or whether indebted South Africans should be spending any money at all?
“To me, it just seems like a way to spend money before Christmas,” said Adrian Ackermann. “I know it’s got something to do with Thanksgiving, but I mean, we don’t celebrate it here.”
Ackermann was close. The “black” refers to the profits retailers make from the sales and “Friday” refers to the day before Thanksgiving in the US, which retailers and consumers see as the official first day of pre-Christmas shopping. While South Africans don't celebrate Thanksgiving, nearly all businesses in the retail sector have adopted the day.
READ: #BlackFriday: The ultimate guide to over 50 online sales
However, with the latest unemployment figures rising to 27.1% and economic growth stagnating just above 0%, many indebted South Africans face a bleak Christmas. Cape Town shoppers agreed that consumers should be careful how they spend their money.
“Don’t buy something if you don’t need it,” said Shaun Abrahams. “That’s currently our problem in South Africa. People buy stuff and they can’t afford it and they don’t need it.
“I refuse to be suckered into buying something that I don't particularly need,” said Patrick Vavu. “(Black Friday) encourages irresponsibility.
“We all know that we live in an age of social media so people want the next ‘it’ thing, so … it hurts more than it helps.”
RELATED:
How cyber crooks want to swindle you this Black Friday
These are the pros and cons of Black Friday
Cashing in on the Black Friday online retail bonanza
Read Fin24's top stories trending on Twitter: Fin24’s top stories
