By Zuko Komisa
Black Friday weekend is upon us and researchers are predicting a fruitful weekend.
Retailers in South Africa are anticipated to make an additional R17.3 billion in sales during the Black Friday promotional period, which would represent a 6.7% increase over the Black Friday period in 2021.
The amount is anticipated to be R5.4 billion less than it would have been had South Africa’s load shedding, which has been at high levels during 2022, not occurred on as many days.
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Kaya Biz with Guguletthu Mfuphi spoke to Carel van Aardt, research director at the Bureau of Market Research who unpacked the expected revenue to be generated during this period.
LISTEN TO THE FULL CONVERSATION HERE:
According to a Bureau of Market Research study, general dealers (R7.7 billion), apparel, textile, footwear, and leather retailers (R5.5 billion), and furniture, appliance, and equipment merchants (R5.5 billion) will be the retail subsectors that will increase their income the most throughout the Black Friday weekend (R1.6bn).
Without load shedding, these sums could have been much higher, with general dealers missing out on R577m on their own.
The largest winners in the automotive industry are accessories (R1.2bn), petrol (R2.3bn), used cars (R1.5bn), and new cars (R516bn).
According to projections, sales of new and used cars will be R1.2 billion lower than they may have been in the absence of load shedding, and fuel retailers will lose out on more than R870 million in potential profits.
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