South African Consumer Spending Increases
Discovery Bank CEO Hilton Kellner discussed a new consumer spending report involving 12 million clients and credit cards. The data aims to identify specific areas of the economy experiencing contraction or growth. Overall discretionary spending in South Africa increased relative to inflation during 2025. The increase is attributed to four successive interest rate cuts implemented throughout 2025. The trend reflects an injection of liquidity into the national economy. Consumer spending in South Africa continues to rise in the post-COVID era. Key drivers of this growth include travel and interest in medical innovations such as GLP-1 weight loss drugs. Financial leaders are utilizing this qualitative research to inform business decision-making across the healthcare and banking sectors. Approximately 46% of surveyed South Africans who bet safely are participating in the market.
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Sources · 7 independent
“The report examined how much South African consumers spend, what they spend on, how they spend and for the very first time when they spend.”
“growth and the areas of our economy that are kind of contract respondents earning over 100,000 rand across South Africa representing a whole range of age demographics and geographies”
“over 2025, compared to the prior year, we saw overall discretionary spend increase relative to inflation. And that's the first time that that's happened over the last few years.”
“travel continues to be one of the key areas of spend and that continues to increase post-COVID. As the head of the bank, but also head of the healthcare side, how do you feel this data is going to help you make decisions”
“report says that 46% of those surveyed South Africans who bet safe... among those using AI, 42% found a cheaper alternative and 35% switched brands or retailers”
“report says that 46% of those surveyed South Africans who bet safe... to buy it at all, rising to 50% among 18 to 30 year olds.”
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