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South Africa has the 3rd most discount-obsessed consumers in the world

10 July 2019 4:23 PM
Tags:
The Money Show
Bruce Whitfield
Black Friday
36ONE Asset Management
Evan Walker
Portfolio Manager
NIELSEN
discounts
Arabile Gumede
discount
promotion
promotions
Kerith Botha
Nielsen Connect

We're also the 2nd-most price-sensitive in the world. The glut of discounts by retailers is backfiring bigtime (Nielsen survey).

Consumers are being trained to buy on promotion.

Kerith Botha, MD - Nielsen Connect

About 30% of all fast-moving consumer goods sold in 2018 in South Africa retailed at a discount.

Only consumers in the UAE and Australia are more bargain-crazy than South Africans.

A survey by research company Nielsen shows that a glut of promotions by retailers have made South African shoppers used to buying on sale and resistant to buying at regular prices.

Nielsen estimates that more than two-thirds of promotions result in losses for retailers.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Evan Walker (Portfolio Manager at 36ONE Asset Management) and Kerith Botha (MD at Nielsen Connect).

Listen to the interviews in the audio below (and scroll down for quotes from it).

We are very much a price-sensitive country… the second-most price-sensitive in the world…

Kerith Botha, MD - Nielsen Connect

…23% of consumers in South Africa feel worse off than five years ago…

Kerith Botha, MD - Nielsen Connect

This country is completely oversaturated by retail outlets… We’re seeing discounts of 20%, 30%, 40%... I’ve never in 25 years seen such distortions…

Evan Walker, Portfolio Manager - 36ONE Asset Management

Jacobs coffee normally is R110. On promotion, its R80.

Evan Walker, Portfolio Manager - 36ONE Asset Management

We have the most oversaturated retail space in the world… by far…

Evan Walker, Portfolio Manager - 36ONE Asset Management

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10 July 2019 4:23 PM
Tags:
The Money Show
Bruce Whitfield
Black Friday
36ONE Asset Management
Evan Walker
Portfolio Manager
NIELSEN
discounts
Arabile Gumede
discount
promotion
promotions
Kerith Botha
Nielsen Connect

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