FNB outlines SA online credit card spending habits

According to new data by First National Bank (FNB), online shopping now accounts for 12% of total credit card purchases, a 7% increase from the same period in 2014.

January 2015 statistics reveal that the majority of these online transactions, 36%, were done on online retail and entertainment websites followed closely by professional services such as school fees, university fees, and professional-membership subscriptions.

The age group 20 – 30 has showed the most significant increase in online spend. This is in accordance with consumer trends of instant gratification and the always-on culture of, particularly young professionals, FNB said.

“As online shopping evolves, retailers will continue to enhance their offerings in order to fit the needs of different consumers,” said Chris Labuschagne, CEO of FNB Credit Card.

Most recently, local major retailers have started pilot phases of the concept “click and collect” which will see same day deliveries to an allocated box, for example at a fuel station or an office block, in order to add to convenience and cut down on delivery time.

In November last year, Massmart-owned wholesaler Makro announced that it would acquire access to sites to enable delivery of online customer orders to “conveniently located” secure lockers.

The new click-and-collect lockers will complement the existing option for online shoppers to collect their orders from Makro stores.

These secure lockers, using technology already deployed in other markets, will be located in “safe and convenient” locations, including petrol station forecourts, fast food restaurants, office parks, and Makro stores.

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FNB outlines SA online credit card spending habits