Two-thirds of South Africans (64.3%) are relying on significant Black Friday deals on groceries and food to take the edge off what has been one of the toughest years financially for households across the country.
This is the disturbing reveal from a survey conducted by the country’s leading debt counselling company, Debt Rescue, to ascertain the mindset of consumers, ahead of this year’s major pre-festive season shopping event on Friday, 28 November.
While Black Friday has grown far beyond a single day of deals, since first bursting onto the retail scene in South Africa in 2012, driven by online retailers such as Takealot, it has since evolved into a shopping “season” that set the tone for the festive holiday retail experience and generating an annual sense of excitement and expectation among consumers over the past decade.
This year it seems that sentiment has shifted, with a sizable segment of South Africans now viewing Black Friday through a very different lens, having battled their way through another turbulent year of financial stress and economic hardship that includes skyrocketing inflation and high interest rates.
“Insights from the survey we conducted are deeply concerning, showing that more than half of our participants cannot afford Black Friday shopping at all this year,” said CEO of Debt Rescue Neil Roets. “The days of endlessly searching the shopping event and advertising campaign around it have become a source of financial pressure and potential debt, and no longer engenders excitement.”
The survey results show 59.8% of those polled believe Black Friday pushes people into buying things they don’t really want, adds stress or pressure to buy what they cannot afford.
A Source of Financial Stress, Potential Debt
Roets said for most consumers this major shopping event was no longer about being able to splurge on little luxuries once a year, but rather to buy the items that won’t break their savings, or to purchase what they need to stock the grocery cupboard, and at the same time, free up a little cash to spend on a special festive season meal for the family.
“This is the time of year when consumers are bombarded with relentless Black Friday advertising, making it difficult to resist impulse purchases. Unfortunately, this seems to make perfect sense to many, but difficult to fund. The survey indicated that this year will be different, in that half of those polled (54.8%) are not planning on buying Black Friday deals this year, as they would buy only essentials such as food and household goods.”
The survey results showed that, although a significant number of people intend to participate in Black Friday despite their economic distress, they would largely spend small amounts in the lower price category — with 19.6% looking for deals in food, clothing and school uniforms categories.
No More Debt
In addition, survey outcomes showed respondents wanted to avoid incurring more debt this year, with almost 40% (39.8%) saying they were not planning further Black Friday purchases using credit. Those who are going to commit their funds to Black Friday, Roets said, “will either spend their cash gifts or their savings to top up the grocery tab. We are expecting to see extreme caution being taken when it comes to emptying already fragile coffers into gifts that will plunge them even further into debt. Many are cautious after a year of getting into even more debt.”
He said many households now operate on very tight monthly budgets and struggle to accommodate even the bare necessities. This is understandable and commendable.
Quieter Crisis
“It’s no secret that financial stress is eroding the peace of mind of millions of people across the country,” Roets pointed out. “Worrying about how to put enough food on the table for your family, or whether you will be able to meet your debt repayments every month, deeply impacts the emotional health and overall well-being of human beings and, by all indications, the pressure of retail events like Black Friday seems to be exacerbating this.”
Findings from the Debt Rescue 2025 Cumulative Financial Resilience Index substantiate this. This much-anticipated consumer-driven financial study conducted by Debt Rescue revealed that 42% consistently worry about their finances, while 23% worry about their finances several times a week. Disturbingly, the Financial Resilience Index identifies “financial stress syndrome” as a widespread condition affecting even well-educated, high-earning South Africans. The index explained it as a state of “middle-class poverty” that had a profound impact on relationships, mental health, and wealth-building capabilities.
“It feels like South Africa has suffered more social, political and financial blows this year than ever before,” Roets concluded. “This has been a very successful solution for thousands of consumers who are plagued by over-indebtedness.”