South Africa: Consumer Profile
By 2040, South Africa’s population growth will decline owing to lower fertility rates, resulting in a increase in the number of childless households. Generation Alpha, those aged 15 to 30, are se to overtake millennials as the most prevalent cohort. South Africa is expected to remain one of the most unequal societies in terms of income disparity, as social mobility continues to be hindered by a lack of quality education and limited job opportunities.
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Euromonitor's South Africa: Consumer Profile report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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- Scope
- Key findings
- Key drivers affecting consumers in South Africa in 2023
- How developments today shape the consumers of tomorrow
- Obesity is far more prevalent among women
- Gen Alpha market influence to grow as it overtakes Gen Z as the largest consumer segment
- Urbanisation set to continue rising amid workforce expansion
- Opportunities for growth
- Urbanisation is catalysing the growth of childless households in South Africa
- South Africans maintain their preference for larger homes, despite shrinking household sizes
- South Africa expected to see a comparatively high share of female led households
- Broadband internet to be near universal as households becomes more connected
- High inflation is straining low-income households and increasing consumer concerns
- Younger generations are more optimistic and have an experience-orientated lifestyle
- Older population segment to report higher share of higher earners
- Pretoria set for the speediest expansion of consumer expenditure among major cities
- Younger generations seek quality, while older generations prioritise value for money
- Increased costs of living forms frugal habits among South African Consumers
- Most South Africans try to protect the environment through everyday actions
- While not overly confident, South Africans remain optimistic about their financial futures
- South Africa’s high unemployment on a declining path
- Key takeaways
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