Discussion | Spend Trend 24 | Data from 60 million cards between 2019 - 2023

JOHANNESBURG - Groceries, retail, travel and fuel remain the biggest spend categories among top-earning South Africans. 

These are the findings of the Visa-Discovery Bank Spend Trend 24 report. 

READ: 2023 buying trends | Retailer performances for 2023

The study looks at data from 60 million credit cards, consisting of 13 billion transactions made between 2019 to 2023. It shows that consumers are shopping more online and spending on domestic travel, despite increasing flight costs. 

However, higher interest rates and financial pressures are also forcing people to become more cautious. 

Discovery CEO Hylton Kallner had a discussion with the eNCA.