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

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.
By: Myles Illidge - MyBroadband Eskom has asked the National Energy Regulator of South Africa (Nersa) for a 36.15% electricity tariff hike for the customers it directly supplies and charges, Daily Maverick reports.
By: Yogashen Pillay – The Mercury Economists are predicting a big drop in petrol and diesel prices next month, saying it will bring much-needed relief to under-pressure consumers.
By: Jason Woosey - IOL Petrol and diesel prices are set to come down from Wednesday, June 5, according to a statement released by the Department of Mineral Resources and Energy (DMRE).
By: Opinion – IOL Business Report South Africans have been collectively waiting with bated breath for some small financial reprieve from the relentless price hikes of the past few years that have driven them to the brink of despair, chief among t...