• PayFast provided a glimpse into the shopping habits of South Africans on Black Friday 2022.
• Among the most surprising revelations was that Capitec lead the way when it came to the number of EFT transactions taking place on the day.
• PayFast’s data also revealed that transactions on Black Friday peaked between 09:00 and 10:00.

The fervour that is Black Friday has now passed us and while Cyber Monday might see one or two deals pop up throughout the day, it’s clear that the last Friday in November is the day South Africa chooses to shop.

Over the years PayFast has taken to showcasing how South Africa shops through its Black Friday/Cyber Monday Dashboard. Through this dashboard one can see the largest single purchase – R284 625 – as well as other information such as the average basket value of purchases made on Friday – R1 256.

One slice of data that jumped out at us is the number of EFT transactions that took place. The bank with the highest number of transactions was Capitec and while FNB saw the next most transactions, Capitec is clearly a dominating force in the market.

Another interesting story the data tells is that South Africans are awake early to grab deals on Black Friday. PayFast says that it saw transactions peak between 09:00 and 10:00 on Friday with many locals making purchases just after deals went live at midnight.

“Black Friday has become a highly anticipated annual event in South Africa, with people planning their wish lists weeks, and even months, in advance. Between high inflation and increased food, petrol and energy costs, shoppers are more motivated than ever to take advantage of Black Friday deals – whether its to stock up on groceries and basic consumables, or a post-pandemic splurge,” PayFast’s managing director, Brendon Williamson said in a statement.

Two thirds of South Africans tracked by PayFast are shopping using mobile devices compared to 34 percent using a desktop to shop.

As for what South Africans were buying, PayFast says the bulk of sales were for electronics, appliance, beauty, and fashion products.

Compared to Black Friday, Cyber Monday is getting off to a slow start. As of time of writing the largest single basket value is R53 800 and the average basket value is currently sitting at R833. Capitec remains the most popular bank with FNB trailing in a distant second.

[Image – CC 0 Pixabay]