PayJustNow’s Black Friday sales double

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With a 115% increase in transaction value compared to 2023, the platform continues to redefining how South Africans shop, and supports retailers in their drive to reach more customers and increase sales.

“This Black Friday highlighted how South African consumers are embracing smarter, interest-free alternatives to traditional credit. This extends across consumer segments, whether it is Gen Z or Gen Y, entry level or established-income shoppers,” says Dean Hyde, COO of PayJustNow.

“Our technology platform and omni-channel approach are resilient and relevant to today’s shopper’s needs. As a result, it delivered a seamless shopping experience for our customers, particularly as other platforms faced load challenges, downtime and issues with payment processing.”

This year’s Black Friday saw PayJustNow achieve significant milestones:

• A 115% year-on-year growth in GMV on Black Friday, with total gross merchandise value (GMV) for the entire weekend increasing by 111% over the same period in 2023.
  
• The two highest transactions were in the home retail category valued at R122,999 and R113,999.
  
• In November, the company saw 123,000 new signups.
  
• The store directory peaked at 100,000 visits, while the platform’s Search and Discover feature saw over 400,000 searches on Black Friday alone.
  
• PayJustNow’s transactional database maintained uninterrupted service amidst record activity and increases in trade.

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PayJustNow’s marketing strategies proved instrumental in driving engagement. Their Black Friday CGI ad campaign garnered over 3.5 million impressions on TikTok, driving 80,000 unique clicks to the platform in just one day, while the deals repository saw a surge of over 47 million impressions throughout November.

Dominating retail categories included big-brand department stores and marketplaces both in-store and online, including Makro, Game, and Edgars. With significant demand driven by younger, digitally engaged audiences, Superbalist showed remarkable uptake in the online category.

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As tough economic conditions persist, South Africans are increasingly turning to BNPL solutions for both purchases like home appliances and furniture and aspirational purchases such as high fashion brands, Galxboy and Adidas. PayJustNow’s platform empowers shoppers to manage their budgets responsibly, offering interest-free payment options tailored to their financial needs.

“The rise in BNPL adoption is a clear indication of changing consumer behaviour. People are seeking smarter ways to shop, and PayJustNow provides the tools they need to do so responsibly,” Hyde adds.

As part of the Weaver Fintech ecosystem, the platform’s focus on innovation ensures it remains the go-to solution for consumers and merchants alike with over 75% of its customers choosing to come back time and again.

“For retailers, Black Friday is just the beginning. PayJustNow’s omni-channel approach offers a year-round opportunity to engage new audiences and drive sustained growth,” said Hyde. “As the festive season and new year rolls around, we anticipate a sustained level of growth, as consumers prepare for all important back to school and office essentials, along with home renovations and refurbishment plans,” he concludes.