November may look like a paradise of markdowns, but think before you swipe or hand over your cash this Black Friday, South African financial gurus warn.
South Africa’s stockpiling queen Ncumisa Ndelu, the founder of award-winning stockpiling group 1 Family 1 Stockpile, refers to Black Friday as a “month-long retail showdown”.
“Black Friday in South Africa is no longer what it started as, one day of huge markdowns meant to reward consumers. In the few short years since its introduction, it has evolved into a month-long stare-down between retailers and consumers, where the only guaranteed winner is the retailer,” she said.
“To the untrained eye, November looks like a month of bargains, but when you scrutinise the numbers, you’ll see most ‘sales’ are not that cheap. From the first of November, only a handful of items are genuinely discounted; many are even marked up. The real deals will only appear towards the end of the month, around Black Friday weekend and Cyber Monday.”
Mindful and intentional shopping is therefore key, she said.
“If you know your original prices, you’ll instantly spot a real bargain — but if you don’t, you’ll probably end up spending more than you save. The golden rule? Spend only on what you planned and budgeted for. Buying something just because it’s on sale is financially irresponsible, and the consequences always show up later. Remember: Christmas is still coming and children must go back to school in January.”
Don’t let the excitement of deals trick you into buying things you don’t need. Make a list and stick to it. Emotional spending leads to regret — stay practical
— Niresh Gopichand, Atlas Finance Risk director
Atlas Finance Risk director Niresh Gopichand advised that with thoughtful preparation, consumers could maximise the savings from Black Friday to cover Christmas gifts and even back-to-school needs.
“Black Friday isn’t just about finding the best deals; it’s about planning ahead for the season that follows. With a strategic mindset, you can leverage these savings to ease the pressure of the festive season and the infamous ‘Januworry’. Think of it as not just buying for now, but securing peace of mind for the month ahead,” he said.
The first rule is to set a budget and stick to it: “Start with a clear spending plan. Knowing how much you can afford to spend will keep you from falling into unnecessary debt. Use apps or tools to track your spending in real time.”
The second rule is to think ahead, he said.
“Use Black Friday deals to buy Christmas gifts early, which helps avoid the festive season rush and inflated prices. Plan your purchases based on sales trends and lists of items you know loved ones will need. Many Black Friday deals include school-related items. Grab stationery, uniforms or even tech such as tablets at a fraction of the price for the next school year.”
Gopichand warned consumers to beware of the debt trap.
“Pay attention to ‘buy now, pay later’ offers. While tempting, ensure you’re using these responsibly by calculating how much interest or fees you’ll pay in the long run.”
He suggested leveraging cash-back and rewards options.
“Look for retailers offering cash-back deals or loyalty points. These can provide value long after Black Friday is over, helping with future expenses. Black Friday offers can often be stacked with coupons or loyalty programmes. Take advantage of these opportunities to reduce your costs further, especially on high-ticket items such as electronics.”
While the promise of big discounts is exciting, it’s easy to get caught up in the frenzy and overspend.
“Don’t let the excitement of deals trick you into buying things you don’t need. Make a list and stick to it. Emotional spending leads to regret — stay practical.
“Black Friday isn’t about indulgence. By planning, making informed decisions and focusing on essentials, you can use this shopping extravaganza to your advantage.”
TimesLIVE
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