Africa’s economic reset requires moving from ambition to execution
The Africa Commerce Convergence Summit keynote address identified four elements that must converge if the continent is to achieve a meaningful economic reset.
BLACK FRIDAY
Black Friday becoming Black Fraud Day consumers are being warned
By our African Marketing Confederation News Team | 2024
Cyber security body in the UK cautions that scammers are becoming increasingly sophisticated and AI makes dodgy deals harder to detect.
A Black Friday approaches – and with many businesses already starting to offer ‘specials’ in the lead up to the big day on 29 November – Britain’s National Cyber Security Centre this week launched a public awareness campaign to warn consumers of the growing danger of scams.
Richard Horne, Chief Executive of the NCSC, said fraudsters are “targeting bargain hunters with increasingly sophisticated scams, sometimes crafted using AI, making them harder to detect”.
Fake clothing or high-end tech listings on social media are among the common strategies being used to con shoppers in the UK. Bringing urgency into the deal – where people need to buy immediately to take full advantage of the ‘deal’ – is also a warning that something is wrong.
Photo by Nataliya Vaitkevich from Pexels
Other advice from the NCSC is that shoppers should set up a two-step verification, which provides an extra layer of protection and means that even if a criminal knows your password, they still will not be able access your accounts.
Consumers should also research the seller by looking at reviews on trusted review sites, as well as avoid clicking on links where possible.
Prime time for cyber criminals
As people head into the holiday shopping season, they are understandably eager to find the best deals online, Horne said. “Unfortunately, this is also prime time for cyber criminals, who exploit bargain hunters with increasingly sophisticated scams.”
According to Action Fraud, Britain’s scam reporting centre, more than 40% of the reports it receives relate to scams on social media sites. Online marketplaces feature in just under 20% of scam reports.
Three, a telecoms company operating the UK, last year said it received almost 3,500 scam reports a day from its customers during the Black Friday period.
Data from South Africa’s Standard Bank indicates that digital wallets – including Apple Pay, Samsung Pay, and Google Pay – accounted for 37% of all online purchases in 2023 and may reach close to 50% in 2024.
“This shows a broader shift in consumer behaviour toward more convenient, efficient payment options,” said Dr Belinda Rathogwa, Head of Digital and eCommerce at the bank.
“However, cybercriminals also view this shift as an opportunity, prompting them to target online shoppers during Black Friday,” she added.
Momentum Group appoints chief marketing and communications officer
Vongani Mageza brings more than 20 years’ experience across financial services and FMCG) companies such as FNB and Diageo.
AI and algorithm-led engagement among the challenges facing marketers
AI agents will influence shopping, algorithms will supersede social connections, and the clip economy will change how brands connect.
Absa bank launches pan-African campaign with athlete Eliud Kipchoge
The brand partnership includes a new TV commercial featuring Kipchoge, digital storytelling, wellness initiatives and community programmes.
How traditional trade is being reimagined, but remains ‘traditional’
Modern retail in Africa is still dwarfed by the traditional trade. Marketers who dismiss this relationship-heavy retail model do so at their peril.
How luxury brands become a source of meaningfulness for employees
Research finds brands don’t just sell products. They can also provide employees with stories through which they feel their work is meaningful
Redefining honesty in a crisis: Why truth alone is not enough
Honesty must be demonstrated through transparency, accountability and action – shaping both reputation and future trust following a crisis.
Lesotho bank’s culturally intelligent campaign beats bigger rivals
In the funeral plan category, where most advertisements look like an obituary, Standard Lesotho Bank opted to ‘sell the cow’, not the policy.
AMC magazine brings latest news and insights for Africa’s marketers
Strategic Marketing for Africa, the publication for deep-thinking African marketing professionals, is not to be missed.
Global study of marketers and agencies is coming to Kenya for first time
CEO of Scopen says the expansion into East Africa is a natural progression following the success of the research in South Africa.
Huge African and Caribbean trade potential can be unlocked, study finds
Report says around 80% of Africa’s annual goods export potential to the Caribbean remains untapped.