South Africans can expect bigger and better Black Friday specials in 2017 if the informal poll conducted by SATopShops is anything to go by.
Retailers across the country are preparing significant Black Friday price cuts in what can be seen as part of a scramble for market share in a highly competitive market and where consumers budget are increasingly getting squeezed by tough economic conditions.
Major retailers like Shoprite, Massmart (Game, Makro, DionWired and Builders), Truworths, Edcon and big landlords like Growthpoint Properties and Redefine Properties told us they are planning for a bigger bonanza.
Brian Leroni, Group Corporate Affairs Executive at Massmart, notes that some units in the group have been running Black Friday promotions for the past three years. These include, Builders, Makro, Game and Dion Wired.
Asked what Massmart has for the 2017 Black Friday edition, Leroni said “Consumers can generally expect incredibly competitive prices and value on selected high demand or aspirational products.
“Our Black Friday sales are amongst the highest in our annual promotional calendar, because of the exceptionally attractive value proposition associated with the promotion.”
Shoprite which brought Black Friday to South Africa about five years ago is also planning big price cuts.
An Edcon spokesperson said Black Friday is one of the most exciting and important promotional activities for the group’s various chain stores like Edgars, Jet, CNA, Redsquare and Boardmans. This is after last year’s experience where Black Friday became a “great success for Edcon.”
Edcon notes that “Last year’s Black Friday was recorded as one of our largest trading days for 2016, which surpassed our expectations.”
Stephan Le Roux, Divisional Director – Retail Portfolio at Growthpoint Properties said “We have seen a significant increase in foot counts during the Black Friday with a spike in retail spend.
He said the trend indicates consumer’s focus on value and discounts where consumers will go to great lengths and inconvenience to secure heavily discounted transactions.
“Given the current constraints on the consumer, we believe 2017 Black Friday will generate even higher trade, assuming retailers will be prepared to participate on a broad scale.”
Nashil Chotoki, Retail Asset Manager at Redefine Properties, said “Given the current economic environment, South African consumers are cash strapped and remain largely focused on value purchasing. Black Friday is the ultimate leverage that gives retailers the opportunity to provide value to bargain chasing consumers.”