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

Personal Finance 2 months ago

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


23 Nov 2020
PREMIUM!
Consumers warned of overspending on Black Friday, but will they listen?

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...

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