Makro South Africa has unveiled the findings of its latest survey – which finds South Africans are feeling positive about the new year.
“We embarked on this consumer survey to get insights and sentiment on how consumers are feeling about the new year and ascertain their preparedness in terms of their shopping priorities, channels they prefer and how they intend to pay for purchases. Despite the current economic climate, the survey results indicated that 81% of respondents expressed a positive outlook for 2024, with individuals aged 50 and above highlighting the importance of having the necessary tools or products for feeling well-prepared for the New Year”, explains Katherine Madley, Vice President of Brand Marketing at Massmart. The survey collected data from 1 000 South Africans across the country, of varying ages, ethnic backgrounds and household incomes.
Makro’s grocery basket and stationery essentials remain at the top of consumer shopping lists with 65% and 56% of respondents respectively affirming these as their must-have items in preparation for the new year. Madley explains that the retailer continues to invest in a diverse range of grocery and stationery items to ensure that shoppers are able to get all their needs under one roof.
“We have observed over the years that our Makro customers start preparing for the new year during the November to January period which usually means stocking up on food or pantry items, office and home office supplies, toys for the festive season and even outdoor and home products as they plan to invest further into their homes. While our findings aren’t reflective of the entire South African consumer base, they provide a compelling snapshot of the emerging trends”, says Madley.
The survey unveiled a keen interest amongst the youth in Makro’s personal electronics at 41%, homeware and décor products at 40%, as part of their preparation for a new chapter in res or starting their professional journey. Furthermore, 64% omnichannel-ready consumers confirmed that they explore both the online convenience and the in-store shopping experience depending on the product and which platform will provide a seamless and efficient experience.
When engaged on how consumers intended or preferred to fund their purchases, the results indicated a change in consumer behaviour from the traditionally used credit usage through banks and store credits.
The preferred method of payment identified was cash or debit card followed by year-end bonuses.
“We are committed to providing quality, affordability, and customer satisfaction. We know that our Makro customer is looking to continue providing what we call ‘abundance’ to their families. Be it in the small things like their favourite biscuits and treats, or one of the year’s must-have toys, consumers still use this time of the year to invest in those items that make their families happy – and our mission is to continue offering those at the best possible price point in the market,” adds Madley.