South Africa’s 4.2 million-strong black middle class spending power is over R400 billion per annum. It is made up of average personal income of R8 191.00 per month and average household income of R22 634.00 per month.
The purchasing of household assets has resulted in a mass entry into the upper LSMs (8-10) for this segment. These include dishwashers, a computer in the home, DVD player, washing machine and microwave, according to recent research unveiled by the UCT Unilever Institute of Strategic Marketing.
Read more in TREND. ‘Black middle class crucial to economic health’.
Source: Unilever/UCT Institute
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