CONSUMER INSIGHTS | DECEMBER 2024 Absa’s Merchant Spend Analytics: November 2024 Absa | Corporate and Investment Banking > Insights and Events > Absa’s Merchant Spend Analytics: November 2024 SHARE Consume This, CGS Monthly: Volume 11 While Black Friday 2024 marked a modest improvement over the previous year’s dismal performance, it fell short of the double-digit growth achieved in 2022. The post-payday boost contributed to a rise in overall card spending from 3% to 6% during Black Friday 2024, despite a slight softening in transaction volumes. This report provides a detailed breakdown of category performance, key trends, observations, and a day-by-day analysis of the Black Friday weekend. Black Friday performance made a slight rebound compared to Black Friday 2023. Card spending: Black Friday 2024: +6% ( Black Friday 2023: +3%) Transaction volume: Black Friday 2024: +6% ( Black Friday 2023: +6%) Day-by-day breakdown: Friday: Card spending: Friday 2024: +7% ( Friday 2023: -7%) Transaction volume: Black Friday 2024: +13% ( Friday 2023: -4%) Saturday: Card spending: Saturday 2024: +3% ( Saturday 2023: +8%) Transaction volume: Saturday 2024: +4% ( Saturday 2023: +12%) Sunday: Card spending: Sunday 2024: +10% ( Sunday 2023: +8%) Transaction volume: Sunday 2024: +7% ( Sunday 2023: +13%) Cyber Monday: Card spending: Cyber Monday 2024: +3% ( Cyber Monday 2023: +13%) Transaction volume: Cyber Monday 2024: +16% ( Cyber Monday 2023: -2%) 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’s Merchant Spend Analytics: October 2024 Consume This, CGS Monthly: Volume 10. After a dip in September, card spending and transaction volumes rebounded strongly in October. This uptick can be attributed to factors such as the recent 2-pot retirement reform and overall economic improvement. This positive trend is particularly promising for this Black Friday, Cyber Monday and upcoming Festive Season. Read more CONSUMER INSIGHTS Absa’s Merchant Spend Analytics: October 2024 In an era of accelerated change, navigating the vast consumer goods and services landscape can be daunting. This newsletter forms part of a series of reports curated by industry experts, leveraging Absa internal and global data sources, as well as local research across the consumer goods and services sector to bring you the latest insights and trends. Read more BLACK FRIDAY SA Shoppers Should Brace for Fewer Black Friday Bargains American novelist, Herman Melville once wrote: “It is better to fail in originality than to succeed in imitation.” This quote felt apt as we review consumer habits and the annual “Black Friday” and “Cyber Monday” trade events. Read more
