A shopper leaves a store in Canal Walk, Cape Town, during last year's quiet, pandemic-hit Black Friday. Picture: ESA ALEXANDER
Our own economic issues with unstable electricity supply and the havoc this causes for business owners — over and above the rising fuel spend — adds a further concern regarding South Africans’ finances. The BankservAfrica economic transactions index shows that 2022 has been a year of two halves. This monthly index, which tracks the number of banking transactions cleared through BankServ, hit a record high of 143 in May, then declined for four consecutive months to September.
Most major retailers and fast-food operators have reported a solid 2022 and have forecast growth over the festive season. Our view is that retailers are more likely to focus on a “Black November” strategy, with sustained discounts over a longer period rather than looking for a single day of deeply-discounted sales.
Source: Loan Digest (loandigest.net)
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