New research: The SpendTrend 2026 report reveals how South Africans are changing the way they spend

Visa and Discovery Bank have launched SpendTrend26, the fourth and most comprehensive edition of their annual collaborative research series exploring local and global consumer spending trends. Drawing on five years of data, the report reveals how financial behaviour is evolving across South Africa.

What is SpendTrend26?

SpendTrend26 is a powerful collaboration that provides an in-depth view of consumer spending behaviour in South Africa.

By combining Visa's extensive data insights with Discovery Bank's analytical expertise, the report tracks how spending habits have evolved over time. It examines shifts in how consumers spend, what they spend on, and how behaviour is changing across different segments of the population.

For the first time, SpendTrend26 also includes a dedicated section exploring when people spend.

The report analyses spending patterns among Discovery Bank clients, the wider South African card market, and consumers across seven major South African cities, offering clear, data-driven insights into how spending is changing in evolving market conditions.

Key findings from SpendTrend26:

1. Consumer spending edges past inflation as interest rate cuts ease the pressure.
   In 2025, consumer spending grew 0.8 percentage points above inflation for the first time since 2022, signalling cautious but meaningful recovery.
2. Consumers are strategic and value-led when acquiring essentials.
   Consumers continue to prioritise essentials while adopting more strategic, value-driven behaviours. These include bulk buying, price comparisons, increasing use of store brands, and using cash back and rewards.
3. Travel rebounds and ride-hailing gains momentum.
   Travel spending rebounded in 2025 across all income groups, signalling recovery in mobility and leisure. Consumers remain value-conscious, with value for money overtaking relaxation as the top trip-planning factor.
4. Small treats remain protected even as budgets tighten.
   South Africans continue to prioritise small treats and indulgences, even under financial pressure, reflecting mindful rather than reckless spending.
5. Cryptocurrency shifts from speculation to disciplined, steady investing. 
   Mobile-first platforms have lowered entry barriers, especially for younger consumers. Spending patterns have shifted from large irregular trades to smaller, more consistent investments, signalling a move toward longer-term portfolio strategies.
6. Online sports betting overtakes gambling spend at casinos.
   Online sports betting is reshaping how South Africans engage with sport, with digital platforms capturing a growing share of this spend.
7. Weight-management medicine emerges as a new health spending trend.
   Health and wellness remain key spending priorities. Supplements and vitamins are the most common wellness purchases, followed by fitness, weight management support and cosmetic procedures.
8. Digital payments become the default as consumers stay vigilant against fraud.
   Most surveyed South Africans prefer card or digital payments, with 94% favouring these methods.
9. AI reshapes shopping decisions and the subscription economy.
   AI tools are influencing how South Africans shop, with 40% of survey respondents using AI weekly to inform purchase decisions, mainly for price comparison, product research, and deal-finding.
10. Events and celebrations are a key driver of big spending.
    South African consumer spending is strongly influenced by events such as Black Friday, long weekends, celebrations and major sports matches. During these periods, daily spend is 13.6% higher on average than normal, with Black Friday standing out as the single biggest event.