This year’s Black Friday ‘will not be as good as 2019’
The Bureau of Market Research says this year's Black Friday will not be as good as the one in 2019.
On Wednesday, the Connect Group released findings that were conducted by the Bureau of Market Research which shared Black Friday retail statistics and sales from 2014 - 2020.
Research Director at the Bureau Professor Carel van Aardt says sales will be better than in 2020.
"The sad news is that Black Friday 2021, will not be as good as 2019 but the good news is that it will be better than 2020 due to the fact that while about 2.1 million people lost their jobs during 2020 about 730 000 new jobs were created in 2020 and 2021.
"Which means there has been some catch up which has benefited retailers during Black Friday 2021."
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According to the report, a growing percentage of Black Friday spending was on necessities while the percentage spending on necessities declined prior to 2020.
However, there are some retail sub sectors that are expected to benefit from Black Friday Sales this year
These include general dealers which are estimated to account for 54.9% of sales, retailers in textiles, clothing, footwear and leather which will account for 24.7%.
Van Aardt adds that retailers who tend to generate the most sales include those that have social media presence and in store presence.
"Those are the two critical factors."
