Two years into the Covid-19 pandemic South African consumers are still facing economic challenges, with finances becoming increasingly stretched as people struggle to make it until the end of the month.
A new report by management consulting firm McKinsey & Company shows South Africans are not only concerned about the economic future of their country, they also worry about their current personal economic situation.32% say they find it hard to make ends meet;“By and large, this perception cuts across all income levels. Even among the most affluent respondents,” McKinsey said.
While brick-and-mortar stores remain the key channel for shoppers in South Africa, online shopping has become much more popular over the course of the past two years. 13% of consumers in South Africa say they have newly moved online since the pandemic started and the propensity to move online cuts across all income tiers, the group said.
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