Here’s how much we spent on Black Friday

Source: Business Insider SA

Black Friday 2021 was a much bigger deal than the damp squib that was 2020, early data shows.

As of Monday, data points to an increase of between 15% and 30% in sales for Black Friday 2021, year-on-year, depending on how you measure.

Individuals seem to have spent less, but more people were buying, and they were spending big on electronics in particular.

Here’s what we know about Black Friday 2021 sales results and data in South Africa so far.

FNB: sales were up between 15% and 19%
On Monday, First National Bank said its own cardholders had spent 15% more on Black Friday this year than they had in 2020. Based on transactions from other bank customers via its Speedpoint card terminals, spending was up 19% year-on-year, it said.

FNB cardholders spent R2.5 billion on Black Friday, the bank said, and it processed more than R2 billion in transactions via its terminals.

Its numbers also suggest the extended sales period went better than before, with a 25% increase in transactions over the course of November, compared to 2020.

Online transaction values up 30%, and big spending on electronics, says PayFast
Online payment gateway PayFast said on Monday it had seen a 30% increase in the value of transactions it processed on Black Friday, compared to 2020 – even though individuals spent less.

PayFast recorded an average basket of R1,208, which is down from R1,243 the previous year. But more people were shopping online, with a 34% increase in transactions.

Spending on electronics was up 120%, it said, “indicating shoppers’ willingness to spend more on big ticket items like TVs, appliances, and consoles”.

 

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