South Africa’s e-Commerce will once again get a major boost on Black Friday and Cyber Monday as consumers are increasingly becoming aware of the convenience of online shopping to avoid the long queues, says FNB.
In 2017, FNB processed an average of over 800 000 card transactions per hour which peaked at 1.5 million card transactions between 16h00 and 17h00 because of last year’s Black Friday shopping spree.
Christoph Nieuwoudt, CEO of FNB Consumer said, “During last year’s Black Friday, we saw an overall 120% increase in card payment volumes compared to a typical Friday. The spike in Black Friday spend was driven by a 250% increase in purchases from local online retailers versus the 80% spend increase at physical retailers. Interestingly, we only saw a 60% increase for international sites like Amazon vs a typical Friday. By comparison, spend on Cyber Monday was synonymous with volumes of a typical Friday”.
FNB has announced valuable deals for Black Friday to ensure that its customers’ money goes further.
FNB customers can expect discounts of up to 60% on the eBucks Shop for tech, gaming, travel accessories, and gifting items. Customers will be able to spend using their FNB Cards, eBucks, or part-pay with both.