The TransUnion Consumer Pulse study for Q1 2022 finds that the majority (80%) of consumers say they’re making changes to their purchasing behaviour because of rising inflation.
The road to recovery for South African household incomes remains bumpy, the consumer credit reporting agency said. During the most recent quarter, a quarter of households surveyed reported an increase in income, while 32% reported a decrease. The
“Still, South African consumers remained hopeful; 69% of respondents expected an increase in their income over the next 12 months — with only 10% having anticipated a decrease,” it said. “Many households did not expect increases in spending over the next three months; 53% said they’ll decrease discretionary spending; 43% said they’ll reduce large purchases, such as appliances and vehicles.”
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