A new report on SA’s middle class provides good insights for brands.
“maturation” of the black middle class, with a new focus on creating generational wealth.
In terms of relationship with brands, there has been a marked swing to locally owned products and services with an expectation that they tell their own stories and develop their own narrative. James Lappeman, head of projects at the institute and report co-author, says: “We are now seeing more and more second-generation black middle-class families emerging and the narrative has shifted to wanting to create generational wealth, which wasn’t seen 10 to 15 years ago.”
Of particular significance is that the future of education is female. The report found that 58% of students in SA universities are women and 42% men.
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