Absa’s Merchant
Spend Analytics:
August 2024

We are excited to share our latest Merchant Spend Analytics report. The report offers insights on consumer spending habits, derived from a vast array of card transaction data. By examining patterns and trends within this data, we have gained valuable insights into the preferences, behaviours and spending power of consumers across various categories. 

Key highlights:

• Month-to-month: Consumer spending experienced a positive uptick in August 2024, this marks the first instance of consecutive monthly growth in 2024. 
• Muted Performance in Food and Clothing: Despite the overall positive trend, spending in the food and clothing categories remains tepid, reflecting changing consumer behaviour.
• Online spending vs in-store spending: There has been a slight uptick in online shopping, while in-store spending experienced a modest growth.
• Debit card vs credit card: Credit and debit card transaction volumes decreased and stagnated across the core categories, since 2019.
• Focus on Automotive Category: The automotive category navigated a complex consumer spending landscape.