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. 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 CONSUMER INSIGHTS Absa’s Merchant Spend Analytics: July 2024 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. Read more CONSUMER INSIGHTS Absa’s Merchant Spend Analytics: June 2024 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. Read more CONSUMER INSIGHTS Understand retail’s Most Valuable Player: the customer Navigating the vast consumer goods and services environment during a time of rapid change does not need to be daunting. Read more
