Consumers up spending in Dec '17, as one shopper swipes 1 160 times | Fin24
  • New Notes

    Long queues have formed in Harare after Zimbabwe released new bank notes and coins.

  • Open Book

    Former President Jacob Zuma says the public protector can access his tax records.

  • Electricity

    Sowetans should pay rate of R150/month to foster a payment culture, says an ANC councillor.


Consumers up spending in Dec '17, as one shopper swipes 1 160 times

Feb 07 2018 12:36

Cape Town - SA retailers appear to have enjoyed a good 2017 holiday shopping season.  

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 December 1 - 30 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.


* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER



Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote