A overview into the consumer behaviour of almost half of South-Africa’s Urban population
2021
Consumer behaviour
This is an overview on the marketing you can do in the township economy
While 80% of South Africans have a bank account, only 24% will conduct more than three transactions per month
The ranking goes as follows in this order:
Cash
Card
Store Accounts
Mobile Payments
Layby
EFT
Barter
Township dwellers are agile when it comes to the tools they use to pay for products and services. Cash is the preference, but other payment methods are not off the table.
Banks must address the need for financial education that puts the lower income consumer first.
Clothing is a necessity and South Africans are cornered into debt by their need for quality products (and their aversion to pirated goods).
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