Two-thirds of South Africans (64.3%) are relied 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.
These insights were revealed from a survey conducted by Debt Rescue, to ascertain the mindset of consumers, ahead of this year's major pre-festive season shopping event on Friday, 28th 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 like Takealot, it has since evolved into a shopping 'season' that encompasses Cyber Monday on 1 December - setting the tone for the festive holiday retail experience - and generating a real sense of excitement and expectation among consumers over the past decade.
A source of stress and debt or a burden not a bargain
This year, it seems that the sentiment has shifted, with a sizeable segment of South Africans now viewing Black Friday through a vastly different lens - having battled their way through another turbulent year of financial stress and strain, driven by relentless price increases and (still) high interest rates.
"Insights from the survey we conducted are deeply concerning, showing that over half of our participants cannot afford Black Friday shopping at all this year, with as many confessing that the shopping event and the advertising campaign around it, has become a source of financial pressure and potential debt, and no longer engenders excitement," says CEO of Debt Rescue, Neil Roets.
The results also show that 50.38% of those polled believe Black Friday pushes people into unnecessary debt, while 25.3% feel stress or pressure to buy what they cannot afford.
It's no longer about luxuries - it's about survival
Roets says that, for most consumers, this major shopping event is no longer about being able to splurge on little luxuries once a year, but rather to provide them with short-term relief by saving on essential items they need to stock the grocery cupboard, and, at the same time, freeing 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; however, insights from the Debt Rescue survey indicate that this year will be different - with more than half of those polled (58.3%) saying they will only be buying essentials like food and household items.
The survey results show that, although a significant number of people intended to participate in Black Friday despite their economic challenges, they will largely be spending on food and groceries, while 19.9% will be looking for deals to help them afford clothing and school uniforms for the year ahead.
No more debt
In addition, survey outcomes show that respondents will be avoiding incurring new debt at all costs, even for discounted items - with 60.9% opting to pay for their Black Friday purchases using either cash or their debit cards only, and only 3.5% saying they will use credit.
"This tells us that consumers are going to act with extreme caution this year, when it comes to emptying their wallets," Roets explains. "People are really feeling the pinch, and I believe this is being driven by a fear of getting into even more debt.
With the average citizen now spending around 80% of their income servicing debt every month, and millions more unable to afford even the basic necessities, this is understandable and commendable."
A quieter crisis
"It's no secret that financial stress is eroding the peace of mind of millions of people across the country," Roets points 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," he says.
Findings from the newly released 2025 Cumulate Financial Resilience Index substantiate this, showing that 29% of South Africans report money pressure harming their mental health, while 42% constantly worry about their finances.
Released by independent financial behavioural specialists, Cumulate, the Index identifies 'Financial Stress Syndrome' as a widespread condition affecting even well-educated, high-earning South Africans - explaining it as a state of "middle-class poverty" that has a profound impact on health, relationships and wealth-building capabilities.
"It's a quiet crisis inside the minds of people," Gary Kayle, CEO of Worth, a local financial education brand, said in a recent interview with Jeremy Maggs for Moneyweb@Midday.
"With many households on the brink of financial ruin, and millions more barely able to live from paycheck to paycheck, the sad truth is that South Africans will be forced to use their credit facilities over the December holidays, just to enjoy some kind of festive cheer, even if this means serving up three nutritious meals for the family," says Roets.
"My advice to those who have fallen into a debt trap is to seek help from a registered debt counsellor who can assist them to manage their financial predicament. This has been a very successful solution for thousands of consumers who are plagued by over-indebtedness," concludes Roets.
