Consumer Pulse Wave 8

Despite the easing of lockdown levels nationwide, 77% South Africans continue to be negatively financially impacted by COVID-19, consistent with the last three months.

Encouragingly, 46% of consumers who are not financially impacted do not expect their income to be affected in the future (up 9 percentage points from last month). This is the highest level reported since the beginning of the pandemic.

Fewer consumers report withdrawing or borrowing to increase cash flow. Thirty-five percent of affected consumers say they are using money from their savings to help pay bills (down 5 percentage points from last month). Additionally, 21% of respondents report borrowing money from friends or family (down 10 percentage points from last month).

While concern among impacted consumers regarding ability to pay bills and loans remains high (86%), consumers are getting more confident in their future payment abilities. Thirty-one percent of impacted consumers are expecting to be able to pay their obligations for longer than three months (up 6 percentage points from last month).

When asked about their expectations for the future, 71% of impacted consumers indicate they are optimistic, 13% neither optimistic nor pessimistic and 16% pessimistic about the future.