Consumers warned ahead of Black Friday spending frenzy - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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South African consumers have been warned to pay close attention to Black Friday deals and avoid falling prey to clever advertising gimmicks offered by retailers.

A general view of a sign highlighting discounted items as Black Friday sales begin at The Outlet Shoppes of the Bluegrass in Simpsonville, Kentucky, U.S., November 26, 2021.A general view of a sign highlighting discounted items as Black Friday sales begin at The Outlet Shoppes of the Bluegrass in Simpsonville, Kentucky, U.S., November 26, 2021.deals and avoid falling prey to clever advertising gimmicks offered by retailers.

It’s a shopping frenzy that has seen many South Africans buy into the idea that they may actually be saving money. “If you are an impulse shopper than just enjoys the energy around Black Friday, rather shop for needs, shop for food, school uniform – focus on needs. In terms of the economy, petrol prices are going up significantly in December. We haven’t seen the worse yet in terms of the economy. There are still 6 to 12 months more months where we need to tighten our belts. Interest rates might still go up by 50 to 100 basis points in 2023.

“It’s a way of how social media companies connected with search engines was pushed to you. Big companies being able to buy that data and social media companies are always under fire. Are they selling user data, that showcases exactly what I do online as a person? The big top-line goal for a company these days is hyper customisation. We go shopping at a certain store, we buy all our products, that becomes a routine and habit.

 

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