Black Friday Readiness | Financial Fitness

Planning Your Purchases The Smart Way

By Jessie Taylor

Every year, Black Friday brings a wave of deals, discounts, hype and temptation. In South Africa, the event has grown beyond a single day into a full “Black November” tradition, with retailers unleashing weeks of promotions. For consumers wishing to navigate the frenzy without regretting their decisions, preparation is key.

South Africa’s Black Friday spending has ballooned into one of the largest retail events on the continent, with billions of rand spent across both online and in-store channels. In 2024, Discovery Bank’s SpendTrend report showed that total card transactions by its clients rose 37% compared to 2023, while online purchases increased by 46%. Online shopping accounted for roughly 30% of all spend, underscoring the digital shift among consumers.

Online transactions spiked by over 150% compared with a regular Friday, suggesting that consumers use Black Friday for big-ticket purchases.

Capitec, South Africa’s largest retail bank by customer base, reported that its 23 million clients collectively spent R25.45-billion over Black Friday and the following Saturday in 2024. Standard Bank confirmed that its customers were similarly active, with some of the largest single transactions including a R758 677 overseas accommodation purchase and a R400 000 wholesaler spend in-store.

The data reveal that essentials remain dominant. Around a quarter of total spending goes toward groceries and food, followed by household appliances, electronics, clothing and footwear, and health and personal care. Younger consumers (under 25) lean toward fashion and digital gadgets, while older shoppers are more likely to buy household items or upgrade appliances.

To help you navigate this Black Friday, try the following tips:

Take Stock Early and Set Boundaries

Ask yourself whether you would still buy an item if it weren’t on sale. Set a clear budget and make a list of essentials and “nice to haves.” This gives your impulse control a fighting chance. For example, a new laptop you’ve delayed replacing may qualify; a second pair of shoes at 50% off might not. Stick to your list.

It helps to decide your budget in advance and resist being swayed by volume or deal psychology.

As you plan, research product models, usual prices and retail outlets. Many merchants preload “Black Friday” labels on stock that has been inflated in price before the discount. By knowing the baseline, you can spot genuine bargains. Sign up for retailer newsletters to get early alerts and “insider” deals.

Keeping Your Funds Safe

Online security is essential – consider 3D Secure, virtual cards or payment platforms like Masterpass™ to reduce exposure of your primary account. It’s best to think carefully before using store credit, as this is often expensive. If you use credit, make sure you understand the interest terms. Cashless methods like “Tap to Pay” or secure card emulation are safer for in-store shopping than carrying large amounts of cash.

During Black November, scamsters go into overdrive. There is often a surge in phishing emails, fake deals, bogus WhatsApp links and social media pages posing as retailers. Never click on unsolicited links; always type or navigate to the retailer’s official site.

To ensure safe online purchasing, check for “https” and a padlock symbol in the URL before entering payment details. Before completing any transaction, double check the recipient, keep your proof of purchase, and monitor your statements closely thereafter.

Take Advantage of Rewards, Savings and Timing

Black Friday in South Africa is as much about how you pay and when as what you buy. Discovery’s SpendTrend report (2024) shows that its clients’ card transactions rose by 37%, and online purchases by 46%, during the Black Friday weekend. The average online basket (R949) was almost twice that of in-store (R509).

More than 30% of spending was online; many shoppers make early morning purchases before traffic surges. Being alert to timing helps you beat stockouts or system slowdowns.

Use rewards and cash-back systems wisely, and if your credit card offers 0% interest or extended payment plans, make sure you read the fine print and don’t overextend yourself.

Compare Deals and Don’t Fall For Pricing Tricks

Just because an item is “on sale” does not mean it is a bargain. Discounts may be superficial when base prices are inflated beforehand. It helps to know the price per unit and how discounts play out rather than trusting marketing slogans.

Compare pricing across retailers and check catalogues ahead of time. Some retailers begin “pre-Black Friday” sales to lock in buyers early - if you see a genuine deal before the main event, consider taking it rather than chasing diminishing stock.

Check return policies, warranties and after-sales support before you commit. Some items on sale may be “final sale” or limited in return rights.

A Mindset Shift

The best shoppers view Black Friday not as a battlefield but a calibrated chance to realise needs at better prices, to invest in durable goods, or to clear wish lists responsibly. View the event as a tool, not a temptation.

In recent years, consumers have shifted away from luxury goods toward essentials and home items. This suggests many people now use the event to procure needed items at an advantage rather than indulge whims.

Also, consuming less is itself a win: skipping that spontaneous gadget or fashion impulse frees your budget for emergencies, investments or debt repayment. In a climate of high interest rates and cost pressures, fiscal prudence matters more than ever.

Black Friday offers potential for real savings and strategic purchasing but only for those who enter it with discipline and foresight. By setting your priorities, choosing secure payment tools, avoiding scams, timing smartly, comparing wisely, and maintaining post-purchase vigilance, you can benefit from the sales wave without being engulfed by it.

Sources: Discovery | Standard Bank | BusinessReport | DailyInvestor | Capitec