CONSUMER INSIGHTS | SEPTEMBER 2024 Absa’s Merchant Spend Analytics: June 2024 Absa | Corporate and Investment Banking > Insights and Events > Absa’s Merchant Spend Analytics: June 2024 SHARE Consume This, CGS Monthly: Volume 5 We are pleased to share the latest Merchant Spend Analytics report. As a leading merchant acquirer, we pride ourselves on using a unique vantage point into consumer spending insights to guide your business through today’s spending trends. By leveraging our extensive transactional data, we aim to give your business a bird’s eye view on current consumer spending trends, evolving preferences and emerging market shifts. Your browser does not support the video tag. This month’s report presents the following key findings: • Month-to-month, consumer spending and transaction rates exhibited a decline for June 2024, primarily attributed to weakening performance across core spending categories. • Year-to-date, consumer spending realised a soft increase of 5% (YTD Jun’23: 8%), slightly lagging the inflation rate. • Debit cards maintained their dominance as the preferred payment method accounting for 78% of all transactions, however, credit card utilisation grew at a faster pace. • While e-commerce continues to expand, in-store spending remained the predominant shopping channel, comprising 91% of all transactions. • This month’s analysis focuses on the emerging home and garden sector. Download latest Absa Merchant Spend Analytics Report https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles CONSUMER INSIGHTS Absa Merchant Spend Analytics Report: May 2025 Johannesburg, 29 July 2025 – The Absa Merchant Spend Analytics Report for May 2025 indicates a slight uptick in card activity, following April’s sharp decline. According to Absa’s internal data, card spending increased by 2% month-on-month (MTM), while transaction volumes climbed by 4%. Despite the 2% growth in card spending and 4% increase in transaction volumes, this growth remains below the prevailing inflation rate of 2.8%. Read more CONSUMER INSIGHTS Absa Merchant Spend Analytics Report: April 2025 The Merchant Spend Analytics Report for April 2025 noted a surprising decline in card transaction data for the month. In the wake of a robust performance in March, the month-to-month figures showed a 5% decline in card spending and a 7% decrease in transaction volume. Read more CONSUMER INSIGHTS Absa Merchant Spend Analytics Report: Q1 2025 The first quarter for 2025 revealed resilient card spending with remarkable month-to-month recoveries. While growth moderated on a year-to-date basis, consumer sentiment remained strong and stable. Read more
