CAPE TOWN – While retailers have traded in a tough economy all year, Black Friday presents a much-needed chance to boost profits. Last year, South Africans spent in the region of R2.9 billion on Black Friday, with double the takings of an ordinary trading day.
The popularity of Black Friday has surged over the past few years. A PwC consumer behaviour study published in 2018, stated 54.6 percent of South Africans participated in Black Friday deals in 2017, and that 66.5 percent intended to do so in 2018. A similar growth rate will see almost 80 percent of South African consumers taking to the shops on 29 November 2019.
Retailers must be prepared
“Black Friday is indeed a golden opportunity for our retailers,” says Sumay Dippenaar, spokesperson for Cash Connect, South Africa’s leading supplier of automated cash management and payment solutions. “We urge retailers to make the most of it and not to miss out through either a shortage of stock or of customer service staff on the retail floor.”
The PwC report noted that for retail outlets, stock shortages and a lack of staff – whether in a call centre or on the shop floor – are real risks before and during the Black Friday trading period.