FOMO set to grip Black Friday shoppers despite challenging economic times
A debt expert believes warnings against
reckless spending on Black Friday - are likely to fall on deaf ears.
Malls, major retailers and other stores are preparing for tomorrow's shopping spree.
According to a survey by Debt Rescue, the Covid-19 crisis doesn't seem to have put a damper on consumer spending.
70% of people, who took part in the study, say they'll be going to the shops this weekend, despite many being laid off and others facing salary cuts.
The group's Neil Roets says household items, clothing, appliances, and electronic devices are mostly what shoppers are after.
He says the Black Friday frenzy's come at a difficult time:
"The reality is that yes people should actually during these times save up their money, especially people who have lost their jobs but what we found is that people have almost a matter of 'FOMO' (a fear of missing out) and people feel that if they do not spend money during this time, they are going to miss out on certain items that they could have got for cheaper prices,” Roets said.
