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: 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 CONSUMER INSIGHTS Absa’s Merchant Spend Analytics: February 2025 Absa spend insights report reveals major consumer spending patterns in the face of economic transitions. Report highlights stabilising spending trends, digital commence growth, and the township economy's evolution. Read more
