88 Billion Of RANDS Spent On BLACK FRIDAY

Black Friday spending increased by 11% year-on-year, with transactions worth more than R5.4-billion processed on FNB Speedpoint devices at retailers. The bank reports an upward shift in virtual card usage, with a 59% year-on-year increase in customer spend on Black Friday. uth Africa’s wholesale, retail and fuel sectors are expected to generate over R88 billion in additional economic value for the South African economy during November 2024 amid growing consumer interest in Black Friday sales. This is according to research commissioned by fintech Capital Connect and conducted by the Bureau of Market Research. Their study showed that retailers in South Africa will generate R22 billion in additional direct revenues due to Black Friday this year and R28 billion in indirect economic impact. The wholesale sector will also gain additional sales of R32.1 billion, while an additional R6.2 billion in fuel sales will be generated. 

What this episode covers

Black Friday spending increased by 11% year-on-year, with transactions worth more than R5.4-billion processed on FNB Speedpoint devices at retailers. The bank reports an upward shift in virtual card usage, with a 59% year-on-year increase in customer spend on Black Friday. uth Africa’s wholesale, retail and fuel sectors are expected to generate over R88 billion in additional economic value for the South African economy during November 2024 amid growing consumer interest in Black Friday sales. This is according to research commissioned by fintech Capital Connect and conducted by the Bureau of Market Research. Their study showed that retailers in South Africa will generate R22 billion in additional direct revenues due to Black Friday this year and R28 billion in indirect economic impact. The wholesale sector will also gain additional sales of R32.1 billion, while an additional R6.2 billion in fuel sales will be generated.

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