Cash-strapped South Africans are changing how they shop.
Soaring inflation and a rising cost of living are forcing consumers to adopt new shopping behaviours to save money wherever possible.
Don Slowatek, the CEO of the cashback platform SavvySaver said that consumers had reached a crisis point. “According to the annual Truth & BrandMapp survey results which highlight ongoing loyalty trends, South Africans want the cashback loyalty benefits the most,” he said. Businesses themselves have been losing hope in the current situation as demand from consumers has decreased. The retail sector at large is under pressure; the latest Retail Survey from the Bureau for Economic Research showed that confidence has dropped from 43% to 43% in South Africa.
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