Absa’s Merchant Spend Analytics: November 2024

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%)