BY PHESHEYA IAN KUNENE
MBABANE – Black Friday deals have become one of the most anticipated sales events of the year, but a local economist has advised the public to stick to their budget and buy what they need.
As Black Friday marketing hype peaks this week, economist Terrence Thwala has warned shoppers to avoid taking short loans and buying items that they do not need as that tends to lead to more debts for the shoppers.
“Black Friday is good but people need to be cautious around this time, we urge people to have a proper budget and the list of the items they need. We urge people to also check if the items they are purchasing are really on sale because this impulsive shopping comes with lots of strains for shoppers,” Thwala said during an interview.
Moreover, Thwala further warned that some Black Friday deals might not live up to the hype as some products promoted as being “on sale” are actually retailing at their normal price.
However, Thwala highlighted that Black Friday was good for retailers as a high number of sales were made during this period which helps in keeping the businesses running while also contributing positively to the country’s economy.
The official date for this year’s Black Friday is November, while the previous year’s date was 24 November.
Another economist Sanele Sibiya shared similar sentiments as he said consumers should be wary of big deals claiming shoppers would save big during the upcoming Black Friday as they may not be as spectacular as they seem.
Talking about the popular stokvels trend, Thwala said this was also a good initiative that needed consumers to plan ahead and have clear goals about their savings. He then advised parents to use some of the money to buy uniforms and pay for school fees as that would help ease the pressure in January.
Consumer, Ayanda Dlamini, said he was not ready to splash out money on items he does not need as they cost of living was high and he needed to budget for the month of December.
