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.
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
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
James Small suffered a heart attack and died at a Johannesburg hospital on Wednesday.
The African Union expects the African Continental Free Trade Area to boost intra-African trade by 60% in the next three years.
Bruce Whitfield interviews UDM President Bantu Holomisa and EWN's Kgomotso Modise about the day’s proceedings at the PIC Inquiry.
Bruce Whitfield interviews Sexy Socks founder Dave Hutchison and Andrew Papadopoulos, a trademark attorney at KISCH IP.
Former Morning Live co-anchor Tracy Going opens up about her attitude to money (hopes and fears, successes and failures, etc.).
About 20% of every rand spent in South Africa goes to informal stores, mostly foreign-run. GG Alcock on his book “KasiNomics".
Passengers and JMPD give details of what led to the fire on the bus.
Khabazela shares tweets and Facebook posts that have gone viral.
ANC stalwart Mavuso Msimang dissects the recent spate of resignations by the party's Members of Parliament.
Deputy CEO Ernst Roets says while they have not received a formal meeting invitation, they are open to engaging with the party.