Johannesburg - If you have the money why not spend it? That was the overall impression from bargain-hunters who queued since the early hours of Friday morning to take advantage of the Black Friday specials.
Cash-strapped South Africans used the day to make way for their Christmas shopping following efforts by retailers to entice them with discounts on products ranging from staple foods to technology gadgets.
Read also: Eish, SA! Chaos in the shops for #BlackFriday
For retailers, Black Friday unlocked prospects for sales and improved savings for shoppers who have been under pressure from the sluggish economic growth, high unemployment and the low levels of consumer confidence.
Retailers, which are under strain because of the National Credit Act regulations, were pinning their hopes that the day, which fell on payday, would see impulsive shoppers with deep pockets go on a spending spree without thinking twice.
Shoppers at Eastgate Shopping Centre, east of Johannesburg targeted specials on items from fish oil to washing powder as food inflation made it difficult to fill trolleys.
However, not everything was on sale though with some shoppers saying that the craze, which included pushing and shoving in the long queues, was not worth it.
The shoppers felt that their experience could be much better if security was beefed up to avoid people shoving.
Criticism
Some said the craze was nothing more than a normal sale which could have taken place any time of the year.
One shopper who spoke anonymously questioned the logic behind Black Friday.
“It is just a marketing tool. Whether is it Black Friday or not, there is no difference. The system is failing us. Why does Black Friday not apply to the property market? They (retailers) want us to waste money on clothes. I feel the system is making us poor for the rest of our lives,” she said.
Angel Zwane of Soweto waited three hours before she could enter the store.
She then had to wait almost an hour to reach the tills.
“I am hoping that I can get staple foods like mielie-meal, rice and pastas so that this can be my last shopping spree until March,” she said.
Damon Buss, an equity analyst at Cape Town-based Electus, said all retailers had mentioned during the recent results announcements that shopping patterns had changed - with the first 10 days after payday being strong and then the rest of the month being very weak.
“My key concern for the retailers is that as the consumer is so financially stretched at the moment, they could use these Black Friday specials to stock up for the festive season and/or buy Christmas presents ahead of time, which will have the knock-on effect of making sales in mid-December very poor,” Buss said.
“So bringing sales forward through offering substantial discounts could backfire on the retailers as they miss out on full-price sales in the weeks leading up to Christmas.”
SUNDAY INDEPENDENT