Absa Merchant Spend Analytics Report :
H1 2025

Month-to-month (MTM):

Consumer card spending remained volatile in June 2025, with most categories experiencing significant declines. Following a minor recovery in May, both card spending and transaction volumes decreased once more. Historically, June typically marks a downturn before a July rebound.

Year-to-date (YTD):

Overall card activity year-to-date indicates a general slowdown, suggesting more cautious consumer behaviour or tighter household budgets. This is evidenced by a shift towards smaller transaction sizes, a trend that was also highlighted at the Absa Consumer Conference in Cape Town.