Securitas Financial Group Website Blog Spending Wisely During Black Friday and Cyber Monday

Black Friday and Cyber Monday

Spending Wisely During Black Friday and Cyber Monday

Black Friday and Cyber Monday have become major events in South Africa’s retail calendar, offering consumers the chance to secure substantial discounts. According to Daily News (2023), South African shoppers flocked to stores and online platforms in record numbers during Black Friday 2023, highlighting the growing popularity of these sales events. However, amidst the excitement of bargains, it is important to approach these days with caution to avoid overspending and protect your personal information. 

Spending Wisely During Black Friday and Cyber Monday1

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The Dangers of Emotional Spending

The thrill of Black Friday and Cyber Monday often leads to emotional spending, where purchases are driven by excitement, stress, or the fear of missing out rather than genuine need. Retailers use countdown timers, “only a few left” notifications, and flashing banners to create a sense of urgency, encouraging impulsive purchases (Absa Corporate and Investment Banking, 2023). This type of spending usually results in buyer’s remorse, as consumers end up with items they do not really need. Overspending can also strain budgets, leading to credit card debt or loans with high interest rates, ultimately delaying long-term financial goals such as investments or saving for a home, education, or retirement. 

Setting a clear budget

The Smart Way to Shop

A successful approach to these sales events begins with careful planning. Setting a clear budget in advance helps to control spending and prevent impulse buying. Prioritising needs over wants, such as replacing essential household items or purchasing carefully considered holiday gifts, reduces the risk of unnecessary purchases. Verifying deals and comparing prices is crucial, as not every “special offer” is a genuine discount. Limiting purchases on credit is also important, as interest charges can quickly negate any savings. Taking a moment to pause before making a purchase ensures that the decision is thoughtful and avoids succumbing to marketing pressure. 

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Staying Safe in the Digital Marketplace

Online shopping has become increasingly popular in South Africa, especially during Black Friday and Cyber Monday. SABRIC (2024) reports that financial crime losses in the country reached nearly R3.3 billion in 2023, with digital banking fraud increasing by 45% and card-not-present fraud rising by 19% from the previous year. Fraud on banking apps emerged as the dominant threat, accounting for 60% of all digital banking crimes, representing an 89% increase year on year (SABRIC, 2025).  To protect against cyber threats, consumers should shop only on trusted websites with secure “https://” addresses, avoid clicking on suspicious links in emails or messages, and type the retailer’s website directly into their browser. Strong, unique passwords and two-factor authentication on banking and shopping apps are crucial to safeguard personal accounts. Sharing only the necessary personal information is also very important. For added security, cybercrime insurance can provide financial protection against losses from online fraud. 

Cyber Threats

Final Thoughts

While Black Friday and Cyber Monday provide opportunities to save, they also present risks that must not be ignored. By planning purchases carefully, setting and adhering to a budget, and remaining vigilant against cyber threats, consumers can enjoy the benefits of these sales without compromising their financial security or peace of mind. Ultimately, the best deal is not a discounted product, but the protection of one’s long-term financial stability. 

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