December holiday spending shows consumer resilience

JOHANNESBURG - Despite lackustre spending on Black Friday, consumers were willing to spend over the festive season.

BankservAfrica found total in-store card spend for December amounted to over R112-billion.

That's a 13 percent increase from the R100-billion recorded the previous year.

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The highest spend and volumes were at grocery stores and supermarkets, which almost doubled in value.

But purchases on fuel and clothing declined during the period.

Consumers also treated themselves to outings as spend at restaurants and fast food outlets was slightly up.

BankServAfrica's Solly Bellingan says despite the uptick, consumers remain under pressure.