JHB residents spent 47% more than the average South African
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GUEST - Hylton Kallner - Discovery Bank CEO
Key insights from the report:
Groceries, retail, travel, and fuel make up nearly two thirds of South African spend.
The study found that South Africans are increasingly using their mobile phones to pay instead of physical wallets.
Average spending on eating out and takeout rose by 8% in 2023, highlighting its enduring popularity and convenience. Consumers have adapted to higher levels of loadshedding with low variance across the different levels.
South African spend growth in 2023 for online outpaces in-store by 5 times | South Africans are increasingly shopping online, surpassing other emerging market cities and keeping pace with developed ones.
Entertainment continues to shift online, as streaming becomes more ubiquitous and sports entertainment takes hold (Disney +, Netflix, Prime Video and Showmax)
Joburgers are SA’s biggest spenders – JHB residents spent 47% more than the average South African
Similar to global trends, South Africans are increasingly engaging in “leisure” travel, combining business trips with leisure activities by extending their stays and taking advantage of remote work opportunities.
Cheapest time to fly: Sunday 6:00 Most expensive time to fly: Friday 13:00
The trend of people moving from inland areas to cities along the Garden Route has also led to increased travel to East London, George, and Gqeberha.
Key insights from the report:
Groceries, retail, travel, and fuel make up nearly two thirds of South African spend.
The study found that South Africans are increasingly using their mobile phones to pay instead of physical wallets.
Average spending on eating out and takeout rose by 8% in 2023, highlighting its enduring popularity and convenience. Consumers have adapted to higher levels of loadshedding with low variance across the different levels.
South African spend growth in 2023 for online outpaces in-store by 5 times | South Africans are increasingly shopping online, surpassing other emerging market cities and keeping pace with developed ones.
Entertainment continues to shift online, as streaming becomes more ubiquitous and sports entertainment takes hold (Disney +, Netflix, Prime Video and Showmax)
Joburgers are SA’s biggest spenders – JHB residents spent 47% more than the average South African
Similar to global trends, South Africans are increasingly engaging in “leisure” travel, combining business trips with leisure activities by extending their stays and taking advantage of remote work opportunities.
Cheapest time to fly: Sunday 6:00 Most expensive time to fly: Friday 13:00
The trend of people moving from inland areas to cities along the Garden Route has also led to increased travel to East London, George, and Gqeberha.
