Consumer Pulse Q1 2021

As the South African economy opens up with increased activity since Feb. (when the country emerged from the second wave of COVID-19), significantly less consumers reported being negatively financially impacted in March 2021 (62%) compared to Dec. 2020 (82%).

As such, South Africans remain upbeat; 76% are optimistic about the future, with 54%confident their household finances will fully recover in the next 12 months.

However, the proportion of impacted consumers concerned about their ability to pay their bills and loans has increased by three percentage points from 84% in Dec. 2020 to 87% in March 2021.

Consumers acknowledge both savings and credit are increasingly important during this uncertain time, with 83% of households reporting they now view savings as more important than before the COVID-19 pandemic, and 91% of households consider access to credit important, with 23% considering it extremely important.