Visa today released its annual Retail Spend Monitor from Visa Consulting & Analytics (VCA), providing a detailed view of South Africa’s 2025/26 holiday retail performance. Preliminary findings show that total holiday retail spend across all payment methods, including cash — grew 7.9% year‑on‑year.
This year’s edition features expanded insights, incorporating business travel–related spending during the G20/B20 Summit, offering a more comprehensive view of the drivers influencing national economic activity.
“Whether shoppers were upgrading their tech, refreshing their closets, or stocking up at one‑stop shops, retailers delivered seamless shopping experiences both in stores and online,” says Wayne Best, chief economist at Visa. “This season also marked a turning point, with artificial intelligence shaping how people discover products, compare prices, and interact with offers. This led to a more informed, more intentional consumer, ensuring they could stretch their discretionary spending.”
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The VCA Retail Spend Monitor analyses retail sales activity over a seven-week period beginning on 1 November 2025, using a subset of Visa payments network data in South Africa and survey-based estimates for other payment methods.
Key insights for South Africa revealed:
- In-store shopping remains strong: 88% of holiday payment volume was in physical stores.
- E-commerce continues to expand: Online retail spending rose 49.9%, driven by early-season promotions and convenience.
- Home Furniture and appliances increased: 16.1% uptick reflecting a strong demand for Home Essentials.
- Hardware purchases rose: 14.4% lift, supported by home improvement trends and seasonal renovation activity.
- Clothing and Footwear sales climbed: 5.8%, indicating a strong demand for apparel as consumers sought value through seasonal promotions.
Business travel boosts national spend during B20G20 Summit
South Africa also benefited from a spike in business travel activity during the B20G20 Summit week, which took place from 17 -23 November 2025. Spend from travelers into South Africa had the most significant impact on spend uplift, peaking to a 49% at the end of the B20 summit week compared with the same period in 2024.
A strong uplift was observed across several spend categories during the summit:
- Food & restaurants recorded the highest increase, with spend rising 29% compared to the same period last year.
- Retail stores & shopping saw a 28% uplift, driven by increased purchases in apparel, accessories, and discount store segments.
- Air travel & accommodation spend grew by 14%, largely influenced by bookings through travel services and agencies.
- Local commute & travel experienced a 10% increase in spend, reflecting heightened business activity in Johannesburg during the summit week.
Notably, the positive impact extended beyond the host city, with spillover spend activity also evident in Cape Town in the week leading up to the summit.
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Furthermore, countries participating in the summit both as standard members and as invited guests attracted a higher spend increase compared to the previous year baseline, reinforcing the role of hosting large or mega-events to drive spend in the local economy.
“These insights help businesses adapt to evolving consumer behaviours and prepare for the future of commerce,” says Sandy Samaan, Head of Consulting & Analytics at Visa for Southern, East and West, Central Africa. “At Visa Consulting & Analytics, we work with clients and partners to turn insights into action. By combining the scale of the Visa network with deep market expertise, we deliver data-driven strategies that unlock sustainable growth.”
Read full report here: Attached with release
The VCA Retail Spend Monitor and Travel insights are produced by Visa Consulting & Analytics’ (VCA) global network of thousands of consultants, data scientists, and product experts from around the world. In the last fiscal year, VCA delivered nearly 4,500 consulting engagements that helped clients realise over $6.5 billion (over R105 billion) in incremental revenue as a result.