South Africa has the 3rd most discount-obsessed consumers in the world
Consumers are being trained to buy on promotion.Kerith Botha, MD - Nielsen Connect
About 30% of all fast-moving consumer goods sold in 2018 in South Africa retailed at a discount.
Only consumers in the UAE and Australia are more bargain-crazy than South Africans.
A survey by research company Nielsen shows that a glut of promotions by retailers have made South African shoppers used to buying on sale and resistant to buying at regular prices.
Nielsen estimates that more than two-thirds of promotions result in losses for retailers.
Listen to the interviews in the audio below (and scroll down for quotes from it).
We are very much a price-sensitive country… the second-most price-sensitive in the world…Kerith Botha, MD - Nielsen Connect
…23% of consumers in South Africa feel worse off than five years ago…Kerith Botha, MD - Nielsen Connect
This country is completely oversaturated by retail outlets… We’re seeing discounts of 20%, 30%, 40%... I’ve never in 25 years seen such distortions…Evan Walker, Portfolio Manager - 36ONE Asset Management
Jacobs coffee normally is R110. On promotion, its R80.Evan Walker, Portfolio Manager - 36ONE Asset Management
We have the most oversaturated retail space in the world… by far…Evan Walker, Portfolio Manager - 36ONE Asset Management
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
This article first appeared on 702 : South Africa has the 3rd most discount-obsessed consumers in the world
Darren Hele, CEO of Famous Brands, tells the Money Show how the food outlets in the franchise have navigated lockdown.Read More
UCook has launched a Food Fund with FoodForward South Africa, the Philippi Economic Development Initiative and Ladles of Love.Read More
Sophisticated scanners reveal what products shoppers are buying when they visit spaza shops.Read More
The cafes received essential service status continuing to provide Red Cross and Somerset hospital staff's coffee during lockdown.Read More
"You can't come inside to place and collect an order," says Yousri Hartley. "Your car, I cannot say that’s not your address!"Read More
Google services such as Gmail and YouTube don't work on Huawei devices, but there are workarounds, says Jan Vermeulen.Read More
South Africans may now travel abroad if they meet certain criteria, says Advocate Bongani Bongo (Home Affairs Committee).Read More
Labour lawyer Marleen Potgieter says employers are managing a crisis and must ensure sure the health and safety of employees.Read More
Nando's has said it does not make commercial sense to open all outlets for delivery only.Read More
The head of the National Blood Service is now part of a blood plasma donation programme.Read More