The number of South Africans who are planning to either save ‘the same or more’ over the next six months has decreased from 92% to 70% according to a survey by MasterCard on consumer purchasing priorities. Liberty says these figures suggest that people feel that there will be less available to save over the next six months.
While perhaps not always actualised, people generally aim to save more than they currently do and the only reason people would reduce the amount they plan to save, is if they know there is no money to save. This was highlighted by a recent MasterCard survey that found that 83% of the same consumers confirmed that they were uncertain about the economy. If they were saving it was for ‘precautionary measures’.
Source: Steven Braudo, CEO, Liberty Retail SA
For regular updates from TREND. subscribe to our newsletter.