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Expect busiest Black Friday ever - survey

Nov 23 2018 06:45
Carin Smith, Fin24

This year's Black Friday is expected to be the busiest ever in SA, according to Dirk Prinsloo of Urban Studies.

Urban Studies recently conducted market research on behalf of the SA Council of Shopping Centres where surveys were conducted among medium to large shopping malls nationwide regarding Black Friday.

"Most centres expect an increase in footfall and in turnover. Smaller centres in more affluent suburbs expect less impact - this will only be a normal Friday in these centres. This is, however, the exception," says Prinsloo.

Some of the large super regional centres expect shopper crowds of more than 130 000 people on Black Friday. This is twice the capacity of Ellis Park Rugby stadium. Most regional centres expect between 70 000 and 80 000 shoppers on Friday.

The South African Savings Institute has actually issued a warning to consumers ahead of Black Friday and Cyber Monday against reckless spending and buying any items that they do not absolutely need. SASI advises consumers to distinguish between things they need and things they just "want". It suggests paying cash and not to be trapped by "easy credit".

Black Friday is different from other seasonal sales that aim to sell old stock: this promotion is about selling high volumes of in-demand products.

As a result, market and consumer information company GfK South Africa again expects good growth in Black Friday retail sales this year.

FNB processed an average of over 800 000 card transactions per hour which peaked at 1.5 million card transactions between 16:00 and 17:00 during last year's Black Friday shopping spree.

FNB Retail CEO Raj Makanjee says the transaction volumes give a firm indication that Black Friday has become one of the important days for South African consumers.

"It’s vital for consumers to consider that there’s still a long festive season ahead, therefore, it’s important to reserve some funds for unforeseen emergencies," says Makanjee.

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black friday 2018  |  sa economy  |  retail
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