By Zuko Komisa
FNB has confirmed that R3 billion was spent by its clients on Black Friday specials.
According to FNB, almost R3 billion was spent by its clients on Black Friday last week, the most in the previous four years.
According to the bank, over R2.4 billion was spent in-store, up 18% from the prior year, and over R670 million was spent online, up 31%.
Kaya Biz with Gugulethu Mfuphi spoke to Ashley Saffy, Head of Business Development at FNB Card about how FNB clients spent their money this past weekend.
LISTEN TO THE FULL CONVERSATION HERE:
FNB’s virtual cards were used to make purchases worth more than R137 million, a 280% increase over the R36 million they were used to make on Black Friday in 2021.
“In a market where consumers are seeing an increase in the cost of living, many were always likely to take advantage of Black Friday deals.”
“As anticipated, the most popular spending categories, including travel and transportation, groceries, clothing, and entertainment, experienced a robust recovery,” the bank said.
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