South Africans are still
spending, though differently
- and increasingly online

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.

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.

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.