EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 2 months ago Szarlot Post Views: 123 BankservAfrica’s point-of-sales (POS) transactional data showed how the spending varied among cost-conscious consumers. Solly Bellingan, head of customer relations at BankservAfrica, said the total spend during the month amounted to R100 billion as transaction volumes reached 142 million in December. South Africans spent big on groceries, entertainment, and fuel in December, as shown below. Grocery stores and supermarkets – R26 billion Betting outlets, including lottery tickets, casino gambling, and off-track betting – R11.7 billion Service stations – R9.2 billion Non-financial institutions – R3.5 billion Family clothing stores – R3.1 billion The busiest shopping places were grocery stores and supermarkets, with 45 million transactions, followed by service stations at 12.8 million and eating places and restaurants at 8 million. “Our data show the total value of spending was only 7% higher than the previous year’s while the volumes had grown by 17%,” – said Bellingan. BankservAfrica’s Integrated Cash Management Service (ICMS) data shows that the amount of cash circulating in South Africa totalled R84 billion in December 2022. It reflects commercial banks’ total physical cash orders for their respective ATM and branch networks. Despite the 6% decline in the R89 billion in December 2021 – resulting from the 19 working days in 2022 compared to the 21 in 2021 – cash remained in high demand. “One of the peak days was 15 December, ahead of the Day of Reconciliation, with cash orders to the value of R8 billion placed. Orders worth R7.9 billion occurred on 23 December, during the Christmas shopping rush.” – said Bellingan. Source: dailyinvestor.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: economy, South Africa, spending money Continue Reading Previous Betfred SA denies it owes Joburg City Power over R3m in unpaid lights billNext How Will Malawi’s Economy Fare in 2023 More Stories BETTING EXPERTS Is Long-Term Betting a Smart Investment Strategy? 9 hours ago Szarlot CASINO SOUTH AFRICA Where in the world are the most luxury casino destinations? 11 hours ago Szarlot EXPERTS GHANA Casino Industry in Ghana Compared to South Africa 1 day ago Szarlot EXPERTS KENYA The Future of Online Lotto Payments: Cryptocurrencies and Digital Wallets 2 days ago Szarlot BETTING SOUTH AFRICA Analyzing the top 5 online sports betting platforms in South Africa 2 days ago Szarlot EXPERTS SOUTH AFRICA Operators Betting Big On Africa’s Booming iGaming Industry 3 days ago Iwo Bulski CASINO SOUTH AFRICA Sun International bets big on gambling growth 3 days ago Iwo Bulski EXPERTS KENYA The Normalisation of Mobile Money in Sub-Saharan Africa 3 days ago Szarlot EXPERTS NIGERIA How workers, agents impact on gaming industry 1 week ago Szarlot LOTTERIES SOUTH AFRICA Lottery scandal: R1m paid to influencer in South Africa 1 week ago Samuel EXPERTS NIGERIA How investing in Africa became the new trend 1 week ago Szarlot CASINO SOUTH AFRICA Sun International on a roll as gamblers spend big after pandemic 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.