Listening to what consumers are saying: PwC South Africa Economic Outlook
South African shoppers are cautious about the economic outlook for the remainder of 2024 and heading into 2025.
By PwC
We’re pleased to share our seventh South Africa Economic Outlook report for 2024. This edition looks at data derived from the local findings of PwC’s Voice of the Consumer Survey 2024 and what this means for the country’s economic outlook.
Specifically, we consider economic aspects around South Africans’ fears for the country; spending behaviour and planned changes thereof; views and desires on mobility and transport; as well as concerns about extreme weather and climate change.
While we are seeing some positive trends in the consumer market, South African shoppers are cautious about the economic outlook for the remainder of 2024 and heading into 2025. For consumer-facing companies, this signals the importance of having deep knowledge of their customers and responding to their needs in order to deliver on expectations.
Key content in this report includes:
Threats and risks: Consumers are most worried about inflation and macroeconomic volatility.
Expenditure plans: Most shoppers plan to spend more on essential goods in the next 6 months.
Mobility options: Strong appetite for better public transport and electric vehicle (EV) ownership.
Business sustainability: Extreme weather requires companies to think about climate risks and opportunities.
How PwC is assisting its consumer-facing clients to put the right strategies in place to respond to and service the needs of today’s shoppers.
You can explore further insights by visiting the South Africa Economic Outlook webpage.