Black Friday sales figures drop significantly

South Africans spent half has much this Black Friday, as they did last year. Courtesy of #DStv403

JOHANNESBURG - Black Friday 2020 showed negative annual growth, according to clearinghouse BankServAfrica which analyses transactions over a period.

The figures are significant as they indicate how consumers and retailers are performing under the current tough economic conditions.

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BankServeAfrica tallied the figures for the main Black Friday Day, including some specials that have been running for a month.

Total transaction volumes have plunged by 33-percent compared to last year.

The total value of those transactions is down by more than 50-percent.

Transactions tracked by BankServeAfrica measured R6-billion last year, which carried a 106-percent year-on-year growth.

Source
eNCA

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