6 smart ways to beat Black Friday FOMO: expert financial advice for South Africans

Last year, it was reported that South Africans spent more than R30 billion during the Black Friday period across three major banks. Online transactions nearly doubled the average in-store spend, reflecting rapidly increasing consumer confidence in digital shopping. This year, spending is likely to rise again as retailers extend Black Friday promotions into month-long campaigns and consumers anticipate major deals.

Extended sales periods can offer opportunities for real savings, but they also create a risk of overspending and falling for misleading specials, which can put unnecessary pressure on your household budget ahead of the festive season. Below are six practical tips to help South Africans make informed decisions during the Black Friday period.

1. Seek true savings 

Research is key to capitalising on savings. Not every special advertised during Black Friday represents a true saving. In previous years, consumers have highlighted misleading deals such as bulk offers costing more per unit than buying items individually. For example, two items for R50 when they normally cost R22 each.

• Make sure you are tracking and comparing pricing across retailers to avoid this, through price tracking websites, for example. This will help you ascertain true savings during the Black Friday period vs pricing during other times of the year. 
• Should the deal offer you exceptional value, then consider shopping with retailers offering cashback, loyalty rewards, or additional discounts. This can make your savings go further. 
• Remember to use price-beat guarantees where available, to ensure you are paying the lowest price on the market. 

2. Plan your purchases

Impulse buying is one of the biggest risks during Black Friday and often leads to buyer’s remorse. 

• Draw up a list of planned purchases before the sale begins, and avoid adding unplanned items to your cart simply because they appear discounted. 
• For big-ticket items such as appliances or vehicles, ensure you spend time doing the necessary research rather than rushing into a deal. Black Friday, Cyber Monday, and the festive season usually see retailers competing with each other for pricing, which means you may be able to negotiate better pricing and payment terms. 

3. Use bulk buying strategically

Many households use stokvel payouts, salary deductions, or savings clubs to bulk-buy non-perishable goods during Black Friday. This can help mitigate future price increases if done responsibly. 

• Consider group purchases to access bulk discounts if funds are limited. 
• Check expiry dates before buying any items and avoid goods that spoil or attract pests. 
• Stick to your normal monthly usage to ensure stock lasts. For example, if you use one litre of dishwashing liquid per month, buying 12 litres on promotion will save money as long as usage remains consistent and the stock is stored separately.

4. Be cautious of FOMO sales tactics

Countdown timers, limited-time offers, and “X people are viewing this item” notifications are designed to create urgency and tap into the fear of missing out. 

• Pause before purchasing and assess whether the deal genuinely benefits you.
• If you can, sleep on it and decide again in the morning if you really need the item. 

5. Avoid unnecessary debt

Buy-now-pay-later options and store credit accounts can become expensive once interest, fees or missed-payment penalties are added. 

• Avoid taking on debt for non-essential items. 
• If you really need the item and the deal offers true savings, consider interest-free options such as lay-bys, where you pay off an item over time with no interest charged. 
• Ensure you can meet all instalments within the agreed term to avoid further costs and penalties. 

6. Consider long-term priorities

If the item will not meaningfully improve your life, consider redirecting the money towards longer-term financial goals. 

• Prioritise upcoming school fees, January expenses or emergency savings.
• Contribute to a tax-free savings account, retirement annuity or investment portfolio.
• Consider education or skills development that can enhance your earning potential.
• Speak to a financial advisor to align spending decisions with your long-term financial plan.

* Chetty is the head of advice at Vouch.co.za 

PERSONAL FINANCE