Despite the financial strain many South Africans are facing due to high living costs and rising debt, 23 million clients at Capitec bank collectively spent R25.45 billion over Black Friday weekend.
This marks a 27 increase in spending compared to last year. To put it into perspective, this amount is enough to buy over 7.2 million tickets for the 2024 Rugby Championship game between the Springboks and All Blacks at DHL Stadium, filling the venue 132 times.
Capitec clients were very active on Black Friday, with 27 million logins to the Capitec app, a 51 increase from the previous year. Cash withdrawals were up 15, while card payments rose by 21, with online card transactions seeing a growth of over 38.
A significant chunk of spending went to grocery retailers, with R1.98 billion spent - enough to buy more than 99 million loaves of bread. The largest individual purchases included R287,535.82 at a grocery store, R245,590.38 for home improvements, and R53,980.69 at a clothing store.
