Consumer Pulse Wave 9

Despite further relaxing of lockdown level 1 restrictions, 79% of South Africans continue to be financially impacted by COVID-19. This is up 2 percentage points from October but lower than the highest level (84%) experienced in June.

Only 11% of consumers indicate that their household finances are going as planned through 2020, while 65% say their finances are worse than planned.

Concern among impacted consumers about their ability to pay bills and loans remains high at 85%, with 29% expecting to run into a shortfall within one month (+3 pp).

South Africans are still cashing out investments and retirement savings to maintain cash flow through the crisis, with 42% of respondents indicating this is how they will pay current bills and loans.

However, South Africans do remain positive about the future. When asked about their expectations going forward, 69% of impacted consumers indicate they are optimistic, 14% neither optimistic nor pessimistic, and 17% pessimistic about the future.