Discovery Bank and Visa have released their SpendTrends2023 report which reflects the changes in consumer behaviour and spending over the past four years.
Discovery Bank and Visa SA have released the findings of a four-year collaborative study which shows how the COVID pandemic changed consumers' spending habits.
Discovery Bank’s #SpendTrend23 report in collaboration with @Visa_SA shows that the COVID-19 pandemic changed how much people spend, what they spend on, and how they spend. Read all about it and download the report on our website: https://t.co/lisvNaXXvA #DiscoveryBestBank pic.twitter.com/rjymPJuBB5 He also describes a "return to normal" for the categories people stopped spending on during lockdown.
Hylton Kallner, CEO - Discovery Bank Eating out at restaurants and takeout is probably the third biggest category. That's also increased to levels significantly in excess of pre-COVID... and there's an interesting story there around the loadshedding impact on restaurants and people's lifestyles.The study segmented the population based on income, which showed the differences in how food inflation affected the different categories.
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