The man in the jacket suit, center between his hands has the words BLACK FRIDAY in black letters and SALES in red letters to remind you how prepared you are for the season. that is coming soon.
As the annual shopping event where retailers offer significant discounts to mark the start of the holiday shopping season approaches, small and medium enterprises (SMEs) are advised to take this opportunity and grow their businesses, especially those in the township.
Black Friday is observed every year on the last Friday of November, this is actually the Friday after Thanksgiving. However, in South Africa that holiday is not observed.
Norman Nyawo, head of merchant solutions for business and commercial banking at Standard Bank South Africa, says Black Friday is more important than a day of discounts. “Black Friday, ahead of the festive season, is a powerful driver of growth and transformation for South Africa’s SMEs and township businesses.”
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Black Friday important for growth
He adds that Black Friday should be a real-time indicator of operational resilience. The success of SMEs and township businesses on the day will depend on ensuring businesses can bridge supplier payments and customer receipts.
Nyawo advises these businesses to maintain a seamless experience across physical and digital channels.
“Over the years, we have observed a double digit growth in the South African consumer spending across categories such as groceries, clothing, home repairs and travel,” he says.
“This surge highlights how the shopping frenzy has expanded into ‘Black November,’ giving SMEs and township traders more time to manage stock, strengthen cash flow and meet customer demand, ultimately positioning themselves for sustained festive season success.”
Black Friday is a stress test
He adds that ‘Black November’ acts as a stress test, highlighting the importance of preparedness and adaptability for SMEs competing in both local and global markets.
“This evolution of Black Friday has also reshaped payment behaviour. Consumers are increasingly moving from traditional card payments to e-commerce and mobile transactions, with mobile commerce now representing more than 67% of Black Friday transactions.”
e-Commerce and payment solution platforms enable SMEs to merge card and digital payments into a single omnichannel experience.
“This unified approach provides businesses with a consolidated view of customers and inventory, ensuring they remain competitive in a fast digitising retail environment,” says Nyawo.
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4 shopper types and habits
Steven Amey, a personal finance expert and head of intermediated distribution at Ashburton Investments, says there are roughly four spending personalities that can emerge during Black Friday, with different strengths and weaknesses that require different kinds of financial guidance.
The impulse spender loves the excitement of finding a great deal and does not want to miss out on the latest trends. FOMO (Fear of Missing Out) is your middle name!
The cautious thrill-seeker loves excitement but never jumps in blindly. They do their research first and take calculated risks. “This mix of curiosity and research skills is a powerful combination that can be used to build a portfolio that offers both safety and adventure,” Amey says.
The aspiring wealth-builder is a disciplined saver and diligent shopper who prioritises wealth creation. They prefer saving to spending and see the bigger financial picture.
The highly disciplined investor is highly organised, cautious and already in control of their financial journey. “Planning is second nature to them. They have mastered discipline, but it may be time to take calculated risks,” says Amey.
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