Absa’s Merchant
Spend Analytics:
June 2024

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.

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.