Skip to main content

Consumers up spending in Dec '17, as one shopper swipes 1160 times

| Economic factors

South Africans spent more and bought more over the December 2017 holiday period than over December 2016, according to data compiled by BankservAfrica.

BankservAfrica, Africa’s largest automated payments clearing house, recorded the highest number of swipes by an individual in the period 1 - 30 December 2017 as 1 160, and the highest valued transaction by an individual at R5m.

"The main purchases recorded over the period were at grocery stores and supermarkets followed by service stations, eating places and restaurants, family clothing stores, and convenience stores and speciality markets, indicating the greater spending tendency towards consumables," the group said in a media statement on Wednesday. 

According to BankservAfrica's point of sale data, South Africans spent a total of R51.6bn in December 2017. This was R5.1bn more than the corresponding period in 2016. 

FNB senior economic analyst Jason Muscat previously told Fin24 that November 2017 retail sales data had surprised market expectations with an 8.2% year-on-year increase, the strongest performance in five years.

 

(BankservAfrica)

Pin It

Related Articles

South Africans are resilient people who are always ready to seek solutions for problems, even if the trials they face are caused by events that are beyond their control. An empowering example of this approach to life is the use of grocery stokvels...
In response to rising food costs, The SPAR Group offers practical tips for beating food inflation through savvy shopping and creative cooking.
By: Myles Illidge – MyBroadband South Africa’s Road Accident Fund (RAF) tax and General Fuel Levy (GFL) add between R272 and R483 to the price of a tank of fuel, depending on the size of your car’s tank.
By: Shaun Jacobs – Daily Investor Major changes are coming to VAT in South Africa, with the government looking to expand the range of food items exempt from the tax. 
By: Hanno Labuschagne - MyBroadband An anticipated strengthening of the rand and slipping global oil prices could result in lower petrol prices at the pumps next month.