The research on the financial impact of Covid-19 on consumers also showed that 82% of households reported their income was reduced as of early May, compared with 79% in early April.
Four out of every ten people surveyed say they will not be able to make their rent payment, while job losses are mounting.The number of South Africans who have lost their jobs has increased sharply since the beginning of April, according to newly released research from TransUnion.
The research on the financial impact of Covid-19 on consumers also showed that 82% of households reported their income was reduced as of early May, compared with 79% in early April. Nearly two-thirds of these consumers reported that household budget changes during the pandemic involved cutting back on discretionary spending. Forty percent have cancelled subscriptions or memberships, and just under one third have cancelled or reduced digital services due to household budget constraints.
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