Black Friday: the need you never had, the debt you can't escape

THE buzz is building. The inbox is flooding.

"Biggest sale of the year! Don't miss out!"

For weeks, the message has been clear: Black Friday is coming. In a South African economy where every rand counts, the promise of massive discounts can feel like a lifeline.

But is it? Or is it a siren song, luring us onto the financial rocks just before the perfect storm of January hits?

South Africans spent over R30 billion during Black Friday weekend, with Capitec alone reporting R25.45 billion in transactions - a 27% year-on-year increase.

Yet, beneath these staggering figures lies a sobering truth: 83% of South African consumers were hunting for Black Friday deals simply to put more food on the table.

This is not shopping for luxury - it is financial survival disguised as retail therapy.

As we inch towards the festive season, the reality for most households is a pressure cooker of competing priorities.

Parents face back-to-school costs: uniforms, textbooks, stationery, and school fees.

Simultaneously, January brings insurance premium increases and medical aid hikes - the true financial new year, far more expensive than December.

Black Friday, in this context, is not just a sale; it is a test of our financial discipline.

The American Invention: from chaos to commerce:

The term "Black Friday" was not born in a corporate boardroom.

It first surfaced in1950s Philadelphia, where police officers used it to describe the post -Thanksgiving chaos - massive traffic jams and shoplifting sprees that forced officers to work gruelling shifts.

Retailers later rebranded it, popularising the myth that it represented the point when businesses moved from loss ("in the red") to profit ("in the black").

It is a polished fiction designed to dress up chaos as commerce.

The South African reality: shopping for survival

Unlike their American counterparts who buy gifts and electronics, South Africans face a different Black Friday reality.

Retail analysts note that consumers a reprioritising what they need over what they want to buy, with the little disposable income available spent on kitchen stocking rather than indulgence.

The numbers tell a devastating story. South Africa's household food basket reached R5 380 in August 2025, and 63.5% of households are struggling to afford essentials.

Supermarkets accounted for the largest share of Black Friday spending, with grocery retailers collectively recording R1.98 billion.

When your Black Friday shopping list is milk, bread, and cooking oil, something is fundamentally wrong.

Survey results showed that 66% of people intend to participate in Black Friday despite economic challenges, but they will be spending far less than in 2023 and 2024, mostly on household necessities.

This is not deal-hunting; it is desperation economics.

The January squeeze: when reality comes knocking

While Black Friday dominates November headlines, January 1, brings the real reckoning. Insurance policies trigger annual premium increases. Medical aid contributions jump - healthcare inflation consistently outpaces general inflation, sometimes doubling it.

The Council for Medical Schemes notes these increases are necessary to cover rising healthcare costs, meaning your January pay-cheque must stretch further for the same essential cover.

These are contractual, predictable commitments. Succumbing to Black Friday impulse buys is like packing an extra suitcase and being shocked when the airline charges for excess baggage.

The weight was your choice; the fee was always part ofthe deal.

The psychological trap: how retailers hook you

Financial experts describe Black Friday as "a masterclass in consumer psychology designed to trigger immediate gratification and override rational decision-making".

Retailers deploy three potent tactics: the discount effect:

Loss aversion makes us fear missing out more than we value saving. A 30% discount feels like a loss if ignored, even when the item is not needed.

FOMO (Fear of Missing Out): "While stocks last" messaging creates urgency, pushing consumers to act before thinking.

Scarcity marketing: "Only 50 left" taps into primal instincts, overriding logic and budget constraints.These tactics work devastatingly well.

TransUnion Africa reported a 45% surge in personal loan inquiries between October and November 2024. South Africans are borrowing to participate in Black Friday, turning short-term gratification into long-term debt.

But one of the other reason (maybe not the biggest) for being there is we want to be out there with everyone, we want to be at the Black Friday Sale, a costly exercise to meet family, friends and colleagues.

The debt trap: buy now, suffer later:

Consumer debt levels can rise as individuals spend beyond their means to take advantage of sales, even using savings meant for emergencies.

The National Credit Regulator's Credit Bureau Monitor reported that 23% of consumers missed instalment payments, indicating a significant portion of the population struggling with debt repayment.

The rise of Buy Now, Pay Later (BNPL) services add another layer of danger. The lack of comprehensive credit reporting means consumers may accumulate multiple debts across different platforms without realising the full extent of their obligations.

This results in escalating interest charges, deepening the debt cycle.

Back-to-School: the smart shopper's opportunity:

For the disciplined with savings set aside, Black Friday can be strategic.

This is your chance to tackle the back-to-school list: stationery, school shoes, uniform items, backpacks, calculators. Buying these in November at reduced prices is genuine financial planning that eases the January burden.

The crucial caveat is cash. This strategy only works if you have saved specifically for this purpose. If you have not, let the sale prices serve as a budgeting guide. See that school shoe is R300 on sale?

Start setting aside that amount now so you can buy it at full price in January without stress. Use Black Friday as a planning tool, not a spending spree.

What Black Friday means for South Africa:

Black Friday spending was expected to increase from R19 billion in 2023 to R26.6billion in 2024 and create approximately 150,000 seasonal jobs. For businesses, it provides crucial revenue and helps clear inventory. The event significantly boosts demand, positively impacting economic growth by stimulating production and generating tax revenues.

However, it is essential to approach it with caution, as consumer debt levels can rise, and a balanced approach to spending combined with responsible financial practices is essential to safeguard against long-term economic challenges.

Your Black Friday action plan:

For the Planner with Cash:

You have a list, a budget, and discipline. For you, Black Friday is a strategic tool to purchase genuine needs - particularly back-to-school items - at a discount.

For Everyone Else:

The most powerful financial decision you can make is to opt out. The best deal is the one that keeps your financial plan intact. Your goal is not to save R500 on a soundbar, it is to have funds to comfortably cover January policy increases and your child's school supplies.

Financial experts urge consumers to redefine victory - not as scoring the best deal, but as preserving financial stability.

Black Friday's timing is particularly cruel, landing just before December holidays and the dreaded "Janu-worry" period.

It is the ultimate test of wants versus needs. It is a masterclass in making you feel a lack you never felt before. Do not be fooled. Your real needs - your family's financial security, your children's education, and your essential healthcare - do not come with a discount tag.

Plan for those first, and you will navigate the frenzy not as a frantic shopper, but as a master of your own financial future.

Hanuman is a financial consultant