Ina Opperman
Business Journalist
2 minute read
23 Nov 2020
4:21 pm

Consumers warned of overspending on Black Friday, but will they listen?

Ina Opperman

Although consumers were warned about overspending often, a recent survey by Debt Rescue showed that these appeals more often fell on deaf ears.

Picture: iStock

The Black Friday marketing machine has moved to high gear and wherever you turn, you are bombarded by advertisements. According to a survey, almost 70% of respondents indicated they had plans to spend money on Black Friday specials, despite the fact that 66% of them indicated that they had been retrenched or faced salary reductions in the wake of Covid-19. Just 18% declared that they were determined not to participate in Black Friday or had no plans to participate, while 25% were undecided. A whole 22.9% of those who said they would spend money on Black Friday expected to buy...