Black Friday: don't get caught out

FORGET about online shopping, it is online gambling that's putting a strain on South Africans finances, and if you thinking of splurging this upcoming Black Friday, economists are warning that with an economy in the doldrums it would be wise to hold onto your cash.

- TRACY-LYNN RUITERS

With Black Friday falling on November 28 this year and Cyber Monday following on December 1, experts are warning South Africans to approach the festive shopping period with caution.

While Black Friday is becoming a cultural phenomenon in a relatively short period of time, economic pressures, high debt levels, and the rise of online scams mean shoppers must plan carefully to avoid financial hardship.

Economist Dawie Roodt said that despite the allure of discounts and the surge of online shopping, he expects subdued demand this year.

"Only a few years ago, we didn’t even know about Black Friday. Now it’s part of our culture, but I suspect we won’t see very strong spending here.

"People are used to online shopping and already have the gadgets they need. More importantly, the economy is under pressure, and demand is likely to be weak. I do not see people splashing out this festive season."