Hear that sound? It’s the whoosh of November disappearing. There isn’t another month on the calendar that seems to go by so fast. It went out with a bang, too, thanks to a spending spree on Black Friday.
Yup – whether you love it or hate it, the sales frenzy on 29 November has left the confines of the USA and is now firmly entrenched in the minds of deal-hungry consumers around the world. South Africa is no exception: 22seven users were keen to snap up the discounts offered by almost every retailer in every sector.
To find out how Black Friday affected our credit cards, we analysed the spending in the 10 categories with the highest sales on the day, and compared it to end-of-month spending in those categories in preceding months.
The results were interesting. The category that saw the highest increase in median spend was tech and appliances, which makes sense considering the plethora of deals that were advertised for big-ticket items like TVs, home appliances and the like. In terms of overall spending, the gifts category outshone the rest. Again, not unexpected with Christmas around the corner…
Here are some more Black Friday figures:
Did you get the deal you wanted on Black Friday? We hope so, but even if you didn’t and you ended up not spending a cent, don’t worry: You actually saved 100% on the day!
Our tips for shopping smartly on Black Friday are great tips for shopping in general. In the current economy, retailers are going to keep the deals going into Christmas and beyond. Try to keep a cool head and don’t buy into the hype – your bank balance will thank you in the new year.