It’s the biggest shopping holiday of the year. Since starting in the early 1960s in America, Black Friday has taken the world by storm. There’s nowhere on Earth where that’s more true than South Africa.
Since Takealot first saw the potential in 2012, South Africans have been of the most Black Friday-obsessed people in the world. In fact, we showed the highest global interest in Black Friday deals between 2012 and 2018, with a 9900% increase in interest over those years. For context, the global average was 117%.
In the past, the Black Friday shopping extravaganza extended to include Cyber Monday to ensure that consumers get as many deals as they can grab. This year, however, retailers are taking it a step further. Many are running Black November specials throughout the entire month.
So, what’s the key takeaway from this? South African retailers and consumers alike have realised just how important Black Friday is.
In 2020, we saw a 139% increase in transactions on Black Friday, when compared to the previous day’s trading. More importantly, processing value increased by 210% on Black Friday compared to the rest of the month. The day also made up 17% of the entire November’s processing value.
The time of the day makes a difference too. Historically, Ozow has seen that consumers spent more on higher-value deals around 10h00 in the morning. But it also saw a higher volume of transactions for low-value items at 19h00 in the evening.
While searching for the best deals, keep the following in mind:
To learn more about how we keep your banking and personal information safe when you use Ozow, check out our blog on safety and security here.