CONSUMER INSIGHTS | NOVEMBER 2023 Is it time to reimagine Black Friday in the African context? Absa | Corporate and Investment Banking > Insights and Events > Is it time to reimagine Black Friday in the African context? SHARE Consume This, CGS Monthly: Volume 3, Black Friday 2023 The latest edition of the Consume This newsletter is here and this time, we are unpacking how the relationship between African consumers and consumer events has taken a turn. In the last 18 months, the financial health of the average consumer on the African continent has been under pressure from rising inflation, fuel and electricity, and increasing interest rates from policymakers. In this edition of Consume This, we delve into how this has affected consumers. While interest rates rise, we have seen a shift in how consumers shop for fast-moving consumer goods. 34% of consumers buy whichever brands are on promotion, while 46% focus on essentials. Data also shows us that 40% of South African consumers shop at discount stores more often. Your browser does not support the video tag. Your browser does not support the video tag. We also look at Black Friday before and after COVID-19 and ask the question; are retailers innovative enough? Here are more of the insights you can look forward to discovering in this edition: What retailers are doing to help the struggling consumer? The third emerging trend we are following in eCommerce Will we see a drop in socially conscious product sales? Read the newsletter https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles Podcasts How The AfCFTA will enable digital trade In this podcast, we explore the opportunities of the African Continental Free Trade Area’s protocol on digital trade. What will it mean for cross-border trade, and what do African businesses need to know? Podcasts The AfCFTA and Africa’s Existing Regional Economic Communities Africa is a patchwork of independent and overlapping regional economic blocs. Rather than simplifying matters, the African Continental Free Trade Area adds an extra layer of complexity for businesses trading on the continent. In this podcast, we untangle the mess. Podcasts What Does The AfCFTA Mean For Africa? The African Continental Free Trade Area is now active, bringing with it the promise of significantly easier intra-continental trade.