By: Selma Kaulinge
Black Friday has become a fixture on Namibia’s retail calendar. It’s no longer just an imported concept, but a cultural and economic event shaping consumer behaviour across the country. For businesses, it is a chance to boost revenue and deepen customer engagement. For consumers, it promises saving, but also carries the risk of financial strain if approached without discipline.
Awareness of Black Friday is high, and electronics and appliances are still the most sought-after categories, followed closely by clothing and household essentials. Yet, the narrative is shifting as shoppers become increasingly cautious, prioritising value and necessity over impulse buys. Economic pressures, including rising living costs, interest rates, and inflation, have made consumers more strategic, focusing on pantry staples and practical goods rather than luxury splurges.
Consumers are urged to stick to budgets and avoid short-term loans for non-essential purchases. The advice is clear: plan, verify deals, and resist the temptation of marketing gimmicks. Black Friday is often seen as an opportunity to stock up on essentials rather than indulge in discretionary spending.
Avoiding common Black Friday pitfalls
The most common Black Friday mistakes include poor planning, impulsive buying, and overspending on non-essential goods. Falling for marketing gimmicks like ‘limited time’ offers or bundle deals often leads to unnecessary debt.
Setting clear objectives before Black Friday is essential. Identify the items you genuinely need and research their regular prices early. This preparation helps you avoid inflated discounts and ensures you focus on planned purchases rather than impulse buys. Budgeting is equally critical. Determine your spending limit based on financial goals and divide it into categories like electronics, clothing, and essentials. This approach prevents overspending and keeps priorities in check.
Black Friday can also be a financial indicator. How consumers spend during this period reflects confidence levels and economic sentiment. For banks, it is an opportunity to advocate for responsible spending and provide tools that help clients stay financially fit.
Black Friday should not derail long-term financial goals. At Nedbank, we encourage clients to approach it with the same discipline they would apply to any financial decision: plan, budget, and use the right tools. Our role is to make financial fitness accessible, so that even during high-spend seasons, clients remain in control of their money.
Nedbank’s #GetMoneyFit campaign draws parallels between physical fitness and financial wellness, underscoring that consistency and planning, and not impulsive decisions, lead to lasting success. This message resonates strongly during Black Friday, when the temptation to overspend is at its peak.
Without a clear budget and priority list, it is easy to fall prey to ‘limited time’ offers and bundle deals that seem irresistible, but add little real value. Credit and store accounts, while convenient, can become debt traps if repayments are miscalculated or limits maxed out. Experts advise using cash or debit cards for discretionary purchases and reserving credit for essentials only.
Make informed decisions online and offline
Online shopping introduces additional risks. Consumers should verify the legitimacy of websites and apps, enable 2-factor authentication, and use secure payment gateways. Scams and phishing attacks peak during Black Friday, so vigilance is key.
Black Friday is no longer just about chasing the deal; it includes making informed choices that align with financial goals. For consumers, the mantra is simple: plan, verify, and spend within your means. For businesses and banks, the challenge is to deliver genuine value while promoting financial literacy.
Our #GetMoneyFit campaign reinforces that financial fitness is about consistency and informed choices, even during this high-spend season. Ultimately, Black Friday should go deeper than just chasing the deal. It should be about making informed decisions that align with your financial future.
Selma Kaulinge is the Manager for Communications & PR at Nedbank Namibia
