Black Friday Insights

Consumers are feeling the pinch! South African consumers’ financial health is under significant strain due to inflation, high interest rates and global economic challenges which have burdened them with debt. Despite a slight increase in real take-home pay for consumers, the growth is insufficient to keep up with the rising cost of living and high levels of debt.

We are pleased to share the latest Merchant Spend Analytics report. As a leading merchant acquirer, we pride ourselves on using a unique vantage point into consumer spending insights to guide your business through today’s spending trends.

Navigating the vast consumer goods and services environment during a time of rapid change does not need to be daunting.

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. 

American novelist, Herman Melville once wrote: “It is better to fail in originality than to succeed in imitation.” This quote felt apt as we review consumer habits and the annual “Black Friday” and “Cyber Monday” trade events.

The Insights Series drives impact by speaking to our knowledge, expertise, and the insights that we provide. Impact is where thinkers become doers.

Astute investors and entrepreneurs are casting their eyes toward the private education market in Africa as they seek to not only unlock investment opportunities but participate in a sector which can materially address inequality on the continent.

Consume This, CGS Monthly: Volume 3, Mar 2023. Since 2006, influencer marketing has grown to a $21.1 billion industry in 2023. Figures such as these show that brands can’t ignore the purchasing power of these types of online marketing partnerships.

China has long recognised the investment potential of Africa, deepening its relationship with the Continent over the past two decades. By establishing itself as a crucial partner to Africa on trade, and as a substantial lender and investor, China has supported key projects, from infrastructure, ICT to agriculture.

Any spot-check in today’s dailies, billboards or banners on major social media sites will not miss out on adverts with bright-coloured messages that read, “Kenya’s Biggest Black Friday”, “Black Friday Sale Starts Now!”, “Black Friday Never Ends!”, “Everything Up to Half Price”.

Black Friday and Cyber Monday SMEs are relatively new events on the Kenyan retail landscape. In our Absa Insights podcast Linda Kimani, Head of Card Payments at Absa Bank Kenya, explains how digital adoption is driving these year-end sales – and changing the face of Kenyan retail.

South Africa’s retail sector is hoping for a year-end boost through the annual Black Friday sales. Will it happen? Absa CIB’s Isana Cordier, Sector Head of Consumer Goods and Services, and Chriszelle Joseph, Senior Coverage Banker, unbox the trends as we enter shopping’s silly season.