When it comes to online shopping, one thing is clear — South Africans love a good deal. In fact, 80% of online shoppers say discounts and special offers are the main reason they click “add to cart.”
According to Laurian Venter, Sales Director at OneDayOnly, this isn’t surprising. “South Africans are actually the second-most price-sensitive consumers in the world,” she says. “So when you put the right deal in front of them, they’ll jump on it.”
And right now, more South Africans than ever are shopping online, with half of the country planning to increase their online spending this year. What’s driving this? Two big forces:
With 41% of South Africans reporting they’re financially worse off than they were a year ago, shoppers are becoming laser-focused on value. Nearly a third say they shop online specifically to find better prices, save on petrol, and reduce trips to physical stores. Essentials like household goods now dominate online carts.
Venter points out that this shift is directly tied to the country’s tough economic climate. South Africans are carefully managing their money, cutting back on luxuries, and waiting for promotions before making purchases. According to PwC’s 2023 South African Retail Sentiment Index, 99% of consumers are actively looking for ways to save, often delaying purchases until prices drop.
Black Friday has become the ultimate proof point. On that day alone, sales spike by a staggering 1952% compared to an average day — no wonder, considering average discounts hit 56%.
South Africans are becoming savvy “deal hunters.” NielsenIQ’s latest report shows that 31% actively search for promotions, and 22% are willing to switch stores just to score a better discount.
Venter calls it “promo FOMO” — and it’s a big deal. “Over the past 13 years, we’ve seen this behavior shape the way people shop online. It’s a driving force behind ecommerce growth.”
Some of the stories are legendary. Back in 2016, one online shopper bought a fire engine red Ferrari 348ts Targa for R1,750,000 – slashed from R1,950,000. Another nabbed a luxury Cape Town apartment for R800,000, saving R150,000. Both deals were available for just 24 hours — the ultimate FOMO bait.
Right now, consumer confidence in South Africa is sitting at its second-lowest point since 1994. The FNB/BER Consumer Confidence Index (CCI) has plunged to -25, showing that most people feel pessimistic about the economy and their personal finances.
With inflation expected to rise to 10.7% over the next five years and wages only predicted to grow by about 5%, South Africans will be even more focused on stretching their money. Durable goods like cars, furniture, and electronics? Most consumers think now is not the time.
“The hunger for discounts is only going to intensify,” says Venter. “Businesses that don’t meet this demand risk losing out to competitors who do. In today’s market, not offering a deal could be a dealbreaker.”
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