CONSUMER INSIGHTS | NOVEMBER 2023

Is it time to reimagine
Black Friday in the African
context?

SHARE
Facebook
Twitter

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?

Related Articles

BLACK FRIDAY

Is it time to re-imagine Black Friday in the African context?

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.

INSIGHTS SERIES

Black Friday Insights 2023

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

CONSUMER INSIGHTS

Private education is a new investment battlefield for Africa

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.