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 Podcasts Africa Trade: Balancing Gains and Pains, Practical Realities and Support Balancing gains and pains: the on-the-ground realities and practical support. How do African businesses turn a trade vision into a profitable reality? This final, action-oriented episode focuses on the on-the-ground realities of AfCFTA implementation, addressing critical challenges and detailing the practical support available to businesses, particularly SMMEs. Podcasts Africa Trade: More Than Just Tariffs, Unlocking Opportunities More than just tariffs: unlocking opportunities in services and investment. Ready to move beyond borders? This episode dives deep into the African Continental Free Trade Area (AfCFTA), exploring the immense opportunities in services and investment that extend far beyond simple import tariff reductions over the next decade. Podcasts Navigating the New Africa Trade Deal Navigating the new trade deal. Ready to unlock a market of 1.3 billion people? This foundational episode of "Africa Trade Unlocked" is your essential guide to the African Continental Free Trade Area (AfCFTA), often hailed as the world's largest free trade area since the World Trade Organisation (WTO).
