CONSUMER INSIGHTS | DECEMBER 2024 Absa’s Merchant Spend Analytics: October 2024 Absa | Corporate and Investment Banking > Insights and Events > Absa’s Merchant Spend Analytics: October 2024 SHARE 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. Your browser does not support the video tag. In the next edition, we will release data providing deeper insights into card spending and consumer spending patterns during Black Friday and Cyber Monday. We will analyse which categories saw growth, which declined, and whether online shopping will continue its double-digit growth trajectory. Additionally, we'll examine the ongoing trend of credit card usage outpacing debit card usage. Download latest Consume This Newsletter https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles CONSUMER INSIGHTS 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. 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
