Salem Nyati, the head of communications at the Credit Ombud, said consumers needed to be wise about spending on Black Friday.
“If you have to buy it on credit it means you cannot afford it. With so many deals available on Black Friday, it is important for consumers to know exactly what they want to purchase and how much they are prepared to spend. Have a plan, have a budget and stick to it.”
Black Friday comes against the backdrop of a technical recession, low employment growth, tax rate increases and record-high fuel prices, which have contributed to highly constrained consumer finances.
Consumers are expecting to search for bargains on large-ticket items such as smartphones and TV sets as retailers have slashed prices and sweetened the sale with incentives including free delivery and cash back.