SOUTH Africans were using savings policies on groceries more than they were on large appliances and HD TVs, according to a survey released on Tuesday.
The information is contained in a quarterly survey conducted by retailer Game stores.
The research aims to keep abreast of changes and trends in consumer behaviour.
According to the report, households with an income of less than R2 000, looked to save predominantly on groceries, baby products, and furniture, while those with an income of up to R5 000 looked to save on electronics and smart and HD televisions. “Groceries remained a key driver for those with household incomes between R10 000 and R20 000,” it said.
The report states that 780 South African consumers were surveyed. It found that over 80% of respondents in every household income category – which spanned from less than R2 000 a month to more than R100 000 a month – said bargain hunting has become more important to them in the past year.
Game marketing vice president Katherine Madley said the research showed that saving was important to the South African consumer.
“When comparing their bargain-hunting habits year-on-year, 50% of respondents said they were looking for better deals this year, and 33% said they were focusing on buying essential items only – which could be what is driving the consumer to look for savings on items like groceries,” she said.
The report also found that 70% of consumers continue to monitor pricing on items they have already bought. It added that of those who continued to track item prices after purchase, 59% said they used leaflets to compare prices, while only 43% relied on Google searches.
“Using leaflets was most popular amongst respondents with a household income of between R5 000 and R10 000; while those with a household income of less than R2 000 said they preferred to use Google search,” it said.
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