The highest amount spent by an online shopper during the Black Friday promotional period is R 397,217, according to PayFast’s BFCM 2022 statistics portal, accross two online transactions.
The portal allows users to trace spending by South African consumers during Black Friday weekend and Cyber Monday.
PayFast describes itself as a platform that provides the best methods and support systems to help online businesses grow.
On its website, PayFast said it was chosen by over 80 000 merchants with eCommerce, invoicing, event ticketing, and donation-accepting tools.
The BFCM dashboard tracks the top 3 largest single basket values which amount to R 284 625.
View the top five highest online spends so far by 12 pm on Black Friday 2022 in South Africa below:
The most number of transactions by an online shopper was 31, and the amount totalled R21 950.
The average basket value amounts to R1 324, and Capitec bank is the most utilised bank.
According to recent research by the Bureau of Market Research on behalf of fintech funder Capital Connect, about R17.3 billion in additional sales were anticipated from South African retailers during the Black Friday promotional period.
This forecast represented a 6.7% increase over the Black Friday period in 2021.
Appliances and electronics remained popular Black Friday purchases.
Hirsch special projects and IT manager Craig Smith said South Africa’s retail sector experienced an important shift when the Black Friday tradition entered the local landscape, most notably the introduction of a large spike in trading volume during November, peaking around the day itself.
“A few years ago everything built up to the festive season, but since the introduction of Black Friday, November is a crazy time of the year. While December volumes are still good, November has surged in importance for retailers and it is crucial that they are sufficiently prepared,” said Smith.
You can view the live online spend tracker portal by clicking here.
Below are the amounts of the top 5 highest online shopping spends during Black Friday 2022 in South Africa, according to the portal at 11:20am: