TREND.Facts: September 5

TRENDAFRiCA September 5, 2013

The LSM 4 to 7 group now accounts for R6.5 billion per month in household income but differs significantly in demographics and shopping behaviour area by area, according to John Bowles of NAB.

Since 2007 there has been a significant change in some of these key townships, most notably with movement in the LSM’s. The ROOTS 2013 survey saw an 80% jump out of LSM 3-5 into the 6-8 groups as urbanisation and asset accumulation forged ahead. This emergence and substantial growth of the South Africa’s black middle class showed an increase of over 40% in the average household (HH) income in the same key townships – surpassing CPI inflation over the same period.

Source: NAB

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