Today may be Cyber Monday, but it’s worth rewinding to Black Friday to find out how much South Africans were spending on the day, with the big surprise being a rather large average basket price at R1 243.
This, according to payment gateway PayFast, is an increase when compared to 2019. Last year the average basket value in the country was R803.
This increase, and the high amount of the average basket, is a rather big surprise considering the poor economic situation the country is in following months of lockdown, a Rand that has been continually battered and high unemployment rates.
Despite this, South Africans dug out the credit cards to spend on Black Friday, according to PayFast.
“This year’s Black Friday spend surpassed the volumes we’ve seen in previous years. The rapid adoption of ecommerce over the course of 2020 has meant that we’ve seen more people shopping online, especially amid fears of a COVID-19 resurgence,” states Jonathan Smit, managing director and founder of PayFast.
While the average person was spending more than a grand per basket there were, of course, some big hitters. On Black Friday we reported that a few people had spent R299 950 on a single basket. This was found using the live tracker made by PayFast.
Using that same tracker we can also see that the highest purchase made on this Cyber Monday, so far, is R150 000.
Black Friday in South Africa, according to PayFast:
- 283 percent increase in total payments compared to “normal peak day”
- 50 percent increase in total transaction volumes compared to 2019
- 66 percent of purchases made on mobile devices
- 66 percent of purchases made with debit or credit cards
- 54.79 percent increase in average basket price (R803 to R1 243)
- R299 950 – the biggest single basket purchase in the country.
[Image – PayFast]