19.Aug .2022 18:00

Non-cash Spending on Rise in Georgia

Non-cash Spending on Rise in Georgia
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Growth non-cash spending through TBC Bank channels on categories excluding grocery & pharmacy increased, reads the recent research report of TBC Capital, Tracking the Recovery.

In the 1-11 August period, non-cash spending on grocery & pharmacy remained relatively stable and growth amounted to 27% compared to 2021. In the same period, non-cash spending on categories excluding grocery and pharmacy increased and annual growth amounted to +5%, the report says.

“Growth of non-cash spending in hotels, through TBC Bank’s channels, remained stable and amounted to 85% compared to 2019 (+36% YoY).

Growth of non-cash spending in restaurants on the other hand decreased and growth totaled 133% relative to 2019 (+52% YoY).

Compared to 2019, growth of non-cash spending on apparel declined and totaled 112%.

Non-cash spending on entertainment slowed down more noticeably and totaled 27% relative to 2019.

Growth of non-cash spending on fitness remained sizeable and amounted to 197% compared to the 2019 level.

Non-cash spending on construction materials slowed down with the annual growth totaling 37%.

Growth of non-cash spending on furniture & appliances improved, totaling 46% YoY.

Non-cash spending on electronics increased and the growth amounted to 30% relative to 2021.

Non-cash spending on personal care posted a decrease and the annual growth totaled 22%.

Growth of non-cash spending on car repairs increased, amounting to 48% YoY.

Growth of non-cash spending on fuel & transport marginally decreased, totaling 21% relative to 2021.

Growth of non-cash spending on doctor visits is on a rise, totaling to 25% YoY.

Non-cash spending on medical equipment decreased and growth totaled 3% YoY,” the research report concluded.