Debt Financing Nexus
No Result
View All Result
  • Login
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
Subscribe For Alerts
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
No Result
View All Result
Debt Financing Nexus
No Result
View All Result
Home Economy

South Africans seek out Black Friday essentials as crunch continues

News Room by News Room
November 25, 2023
Reading Time: 2 mins read
0
Colombia eyes two rate cuts before year-end, finance minister says

By Nqobile Dludla

JOHANNESBURG (Reuters) – Johannesburg’s Mall of Africa was buzzing on Friday with bargain hunters pushing trolleys laden with groceries such as cooking oil, boxes of milk and multi-packs of diapers, along with household items such as pillows and detergent.

This year’s Black Friday sales come as South Africans grapple with soaring interest rates and steep rises in food, transport and health costs, leading them to spend strategically on products they need the most amid a cost-of-living crisis.

“There is no money for electronics this year. We’re basically just working for food now,” Trevor Abrahams, 42, told Reuters while queuing to pay for his groceries at Shoprite’s Checkers supermarket at the mall.

Black Friday has rapidly gone from being a novelty American event to a significant generator of sales in South Africa, where data from the Bureau of Market Research (BMR) shows shoppers are expected to spend around 7 billion rand ($381 million) more this year compared to 2022 when spending totalled 26.6 billion rand.

However, unlike the years before the COVID-19 pandemic, the morning crowds were thin across malls in Johannesburg and Cape Town, with no queues outside stores.

Retailers from supermarket giant Shoprite, rivals Pick n Pay and Woolworths to Walmart-owned general merchandiser Massmart and fashion and homeware group TFG told Reuters that consumers will likely prioritise essentials over luxury, while also searching for greater discounts for clothes and electronics.

On the other side of the Mall of Africa at Walmart-owned general merchandise retailer Game, Getrude Tladi, 57, and her co-worker Granny Mongalo, 42, snapped up pillows, juice and cereal amongst other grocery items ahead of school holidays.

“Since February we’ve been saving every month for Black Friday,” said Mongalo, who works for a mining company.

“We’re especially buying groceries because our children are closing (school) and will be sitting at home, eating everything in the fridge,” Mongalo added.

At the same store, a couple of shoppers bought big-screen televisions and audio systems. Clothing shops were also busy as parents bought their kids clothes for holiday adventures.

($1 = 18.3689 rand)

Read the full article here

ShareTweetSendSend

Related Posts

45 sickened with salmonella in connection with recall of Super Greens diet supplement powder
Economy

45 sickened with salmonella in connection with recall of Super Greens diet supplement powder

January 15, 2026
Jack in the Box shut down more than 70 stores with more expected by year’s end over financial struggles
Economy

Jack in the Box shut down more than 70 stores with more expected by year’s end over financial struggles

January 9, 2026
$400k shipment of live lobsters hijacked en route to Midwest Costco locations
Economy

$400k shipment of live lobsters hijacked en route to Midwest Costco locations

January 8, 2026
Over 20 state economies are in or near recession, Moody’s finds
Economy

US economy expected to grow faster in 2026 despite stagnant job market: Goldman Sachs

January 7, 2026
Musk says AI and robotics are ‘only’ things that can solve massive US debt crisis
Economy

Musk sounds alarm on silver as China restricts exports needed for critical industrial processes

January 6, 2026
Ground beef recalled in 6 states over possible E. coli contamination
Economy

Ground beef recalled in 6 states over possible E. coli contamination

January 5, 2026

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Debt Financing Nexus

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Visit our landing page to see all features & demos.

LEARN MORE »

Recent Posts

  • Trump calls for 1-year 10% cap on credit card interest rates
  • 45 sickened with salmonella in connection with recall of Super Greens diet supplement powder
  • Americans flee mortgage market despite lower rates as lenders tighten grip on credit nationwide

Categories

  • Banking
  • Business
  • Credit Cards
  • Crypto
  • Economy
  • Finance
  • Investing
  • Loans
  • Markets
  • Mortgage
  • Real Estate
  • Saving
  • Taxes
  • Uncategorized
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact

© 2025 Debt Financing Nexus. All Rights Reserved.

No Result
View All Result
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto

© 2025 Debt Financing Nexus. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.