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Learn moreNov 2020
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Demand for store cards in South Africa was already stagnating towards the end of the review period as retailers, including apparel and footwear specialist retailers and departments stores, grew increasingly concerned about issuing cards due to the increasing number of South Africans getting into high amounts of debt that they would be unable to pay off in full. Some consumers perceive store cards as another method of gaining credit which allows them to purchase goods which they may not be able to pay for at the time.
Store cards experienced a more pronounced declining trend due to the pandemic and the subsequent lockdown, which drastically reduced footfall through shopping centres even after restrictions were relaxed as many consumers continued to opt for home seclusion to avoid the risk of exposure to the virus in public spaces. This scenario led to leading retailers encouraging customers to use their store cards online in an attempt to counter declining usage through physical outlets.
In terms of store cards in circulation, the competitive landscape is fairly fragmented with the largest share held by smaller issuers under “others”, while Truworths International Ltd and Foschini Group Ltd compete fiercely for leadership. Players which offered essential groceries during the pandemic, including Woolworths Holdings, were likely to have fared better than those relating to apparel and footwear.
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Discover the latest market trends and uncover sources of future market growth for the Store Card Transactions industry in South Africa with research from Euromonitor's team of in-country analysts.
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If you're in the Store Card Transactions industry in South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Store Card Transactions in South Africa, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.