South African consumers have spent frugally and mindfully this past Black Friday.
That’s according to Fintech Company, Pay U.
It found that despite a significant increase of 30% in transaction volumes compared to 2020, the total spend for the day was up by only 6%.
The most money spent in an hour was R17 million between 07h00 and 20h00. In 2020 this figure was R30 million.
Pay U CEO, Karen Nadasen, says the big take-away from this past Black Friday is that consumers are a lot more comfortable shopping online as a result of the lockdown,
But that the overall rand value for the day has only increased slightly.
