SA consumers spent 1.4bn eBucks over festive season
Despite industry predictions of a slow to solid festive season, SA consumers spent R140 million worth of eBucks over the period, a record for the First National Bank (FNB) initiative.
eBucks saw the highest activity recorded over the 2011 festive season (October – December 2011) since its inception in 2000 – with members spending about 1.4 billion eBucks, equating to R140 million.
This reflects a growth of 60% on the previous year’s festive season spend of R87 million.
The boost in spend redemption ties in with World Wide Worx MD, Arthur Goldstuck, reporting on a 30% increase of South Africans spending time online in 2011, compared to 2010.
According to eBucks CEO, Jolande Duvenage, members spent their eBucks on a range of items, including fuel, travel and airtime.
Spend on fuel increased by 388% year-on-year, and travel spend grew by 70%.
Spend on goods saw high-end products like the Apple iPad 2 being popular purchases, as well as lifestyle products and children’s toys.
“The R140-million worth of eBucks spent during the last quarter strongly indicates that our members were looking for ways to extend their wallets,” concluded Duvenage.
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