EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 1 year ago Szarlot Post Views: 298 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 EXPERTS KENYA Child Online Protection 23 hours ago Samuel EXPERTS SOUTH AFRICA Remote Gambling Bill aims to regulate online gambling 23 hours ago Samuel ONLINE SOUTH AFRICA Why video game prices have skyrocketed in South Africa 2 days ago Szarlot EXPERTS NIGERIA The industries behind Nigeria’s economic explosion 3 days ago Samuel EXPERTS SOUTH AFRICA South African Regulator Grants Approval to 59 Crypto Platforms for Resident Services 3 days ago Samuel EXPERTS WORLD NEWS IOC and UEFA come together to protect sports betting integrity 4 days ago Szarlot EXPERTS KENYA How SiGMA’s Expansion into Kenya is Reshaping the African Gambling Landscape 4 days ago Szarlot BOTSWANA EXPERTS BMM Testlabs secures licenses for compliance testing in Botswana and Nigeria 4 days ago Samuel EXPERTS HOT NEWS WORLD NEWS Which Country Has The Highest Percentage Of Gamblers? 1 week ago Samuel BETTING SOUTH AFRICA Golden Matrix completes acquisition of MeridanBet Group 1 week ago Iwo Bulski LOTTERIES SOUTH AFRICA SA has three new multi-millionaires 1 week ago Samuel BETTING SOUTH AFRICA South African Gambling Regulation: A Closer Look 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.