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Reserve Bank governor Lesetja Kganyago says the latest headline inflation number was a “surprise” even to the Bank, which had expected prices to have risen by 7.3% instead of 7.6%. The repo rate hike comes despite the Bank’s reducing its GDP growth forecast for 2022 from 1.9% in September to 1.8%.
Moving on to Black Friday, Payflex — SA’s largest BNPL provider — expects that online buying activity will triple over what happened in 2021.
Behrmann says just over 90% of BNPL customers plan to spend more online this festive season than in 2021, while 78% plan to shop on Black Friday. This is according to a survey of more than 1,600 customers conducted this month by Payflex.
Behrmann also shares thoughts on what Amazon’s entry into SA will mean for the local online retail market.
Topics of discussion include details on the latest interest-rate decision; Black Friday predictions in e-commerce; the effect of the buy-now-pay-later (BNPL) model on e-commerce; the growth of Payflex’s business; and an outlook for e-commerce in 2023.
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