Total in-store card spend for December 2023 amounted to R112.5 billion.
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GUEST - Solly Bellingan, Head of Marketing at BankservAfrica
Despite a generally bleak economic backdrop, total in-store card spend for December 2023 amounted to R112.5 billion, an almost 13% increase year on year.
Grocery stores and supermarkets were particularly busy, with sales almost doubling in value to R50 billion, while average spend per purchase increased from R580 to R1 048 for the month.
But purchases on fuel declined by 18% to R7.6 billion in December 2023, while clothing expenditure fell by 11% to R2.8 billion.
Despite a generally bleak economic backdrop, total in-store card spend for December 2023 amounted to R112.5 billion, an almost 13% increase year on year.
Grocery stores and supermarkets were particularly busy, with sales almost doubling in value to R50 billion, while average spend per purchase increased from R580 to R1 048 for the month.
But purchases on fuel declined by 18% to R7.6 billion in December 2023, while clothing expenditure fell by 11% to R2.8 billion.
