The average basket size was R1,255, slightly higher than 2021, which recorded an average of R1,208 per basket.
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%.
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, e-commerce activity spiked on Black Friday itself.
“Transactions peaked between 9 to 10am, with many shoppers already making purchases just after midnight,” says Brendon Williamson, managing director at PayFast.
He adds, “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.”
