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 Merchant Spend Analytics Report: April 2025 The Merchant Spend Analytics Report for April 2025 noted a surprising decline in card transaction data for the month. In the wake of a robust performance in March, the month-to-month figures showed a 5% decline in card spending and a 7% decrease in transaction volume. Read more CONSUMER INSIGHTS Absa Merchant Spend Analytics Report: Q1 2025 The first quarter for 2025 revealed resilient card spending with remarkable month-to-month recoveries. While growth moderated on a year-to-date basis, consumer sentiment remained strong and stable. Read more CONSUMER INSIGHTS Absa’s Merchant Spend Analytics: February 2025 Absa spend insights report reveals major consumer spending patterns in the face of economic transitions. Report highlights stabilising spending trends, digital commence growth, and the township economy's evolution. Read more
