Mobile payments led the way this Black Friday, with 70% of total transactions driving sales, versus 30% on desktop, according to leading payment gateway PayFast. The average basket size was R1 255, slightly higher than 2021, which recorded an average of R1 208 per basket. Electronics, appliances, beauty and fashion, drove the bulk of sales over the bonanza discount weekend.
“Black Friday has become a highly anticipated annual event in South Africa, with people planning their wish lists weeks, and even months, in advance. Between high inflation and increased food, petrol and energy costs, shoppers are more motivated than ever to take advantage of Black Friday deals – whether it’s to stock up on groceries and basic consumables, or a post-pandemic splurge,” says Brendon Williamson, Managing Director at PayFast.
While many retailers have reverted to the one-day format of Black Fridays past, big names like Takealot and Superbalist, have been running specials for the entire month of November. Despite this, ecommerce activity spiked on Black Friday itself; “Transactions peaked between 9 to 10 am, with many shoppers already making purchases just after midnight,” says Williamson.
PayFast’s Black Friday Cyber Monday dashboard, a live payment data tracker that monitored transactions, recorded R397 217, split over two purchases by one single shopper, as the largest transaction value for the day. Overall, the number of transactions PayFast processed increased by 20% compared to the previous year. The company’s gateway solution PayGate, saw a slightly bigger increase in total payment volumes at 24%.
In 2021, DPO Group, of which PayFast is a subsidiary, was acquired by Network International, a globally renowned enabler of digital commerce across the Middle East and Africa. As South Africa’s leading online payment gateway, PayFast enables frictionless, secure and instant transactions helping businesses succeed in the digital economy. For more information visit www.payfast.co.za
