Absa’s Merchant Spend Analytics: October 2024

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.

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.