Consumer spend dips slightly in December
South Africans spent only 1%, or R300m less, at R68.7bn, dropping from R69bn in the previous year
Consumer spend dropped only slightly in December, compared to the same peak retail month in 2019, with more spend on credit in 2020, according to BankServAfrica data.
Cash-strapped customers also stuck to groceries, fuel and eating out instead of luxuries, BankservAfrica, a clearinghouse for banks, said. BankServ is able to share information on the use of credit and debit cards in store and online. ..