More than half of South African consumers have mixed feelings on the country’s economic recovery. Feeling the financial impact from COVID-19, consumers in South Africa continue to see reduction in income, spending, and savings. Discretionary spending remains subdued, as South Africans aggressively adopt habits to save money. Trading-down behavior has grown 1.5-fold compared to the previous year across all socioeconomic classes and product categories. About 79 percent of South Africans have tried a new shopping behavior, and most intend to continue usage beyond the crisis. Consumers expect significant increase in online shopping across categories after COVID-19 subsides.
These exhibits are based on survey data collected in South Africa from Sept 18–29, 2020. Check back for regular updates on South African consumer sentiments, behaviors, income, spending, and expectations.
