Over Black Friday retailers, wholesalers and fuel merchants stand to generate R88 billion in sales collectively. However, Capital Connect notes that much of this spending from consumers will be for necessities not luxuries. Over the course of November, R136 billion is expected to be ploughed into the local economy.
Using data from the Bureau of Market Research, fintech firm Capital Connect reckons this year’s Black Friday could boost the South African economy by an eye watering R88 billion. The sectors that will contribute to this figure include retail, wholesale, and fuel. This makes sense given all three of these sectors are deeply entrenched in Black Friday.
Retailers buy product from wholesalers and wholesalers need to get that product from the warehouse to the retailer. In terms of how much each sector stands to gain, estimates suggest retailers will draw in R22 billion, fuel sales could climb to R6.2 billion and wholesalers could see sales up to R32.
1 billion. In addition, retailers stand to gain an estimated R28 billion in indirect income which Capital Connect describes as “additional sales value of the suppliers of retailers, the manufacturers from which the suppliers obtain their stock, the producers of raw materials being used by manufacturers, the transporters of goods, etc.” This is just for Black Friday and for November as a whole, Capital Connect expects sales at retailers to climb as high as R136 billion.
“The positive outlook for Black Friday 2024 indi.
