% who are cutting back / looking for cheaper options July 2017
(60%)
(61%)
Food & groceries
Domestic worker/gardener
What categories are South Africans cutting back on / looking for cheaper options?
ESSENTIALS
52% 36% 36% 36% 33%
21% 19% 19% 18% Cell phone airtime
DStv / M-Net
Assistance payments to children / dependents
Electricity / water
Armed response
Transport to work
Car & household insurance
% who are cutting back / looking for cheaper options July 2017
Accommodation
Children's education
INCOME HAS NOT COVERED LIVING COSTS (at least once in the last year) R40k+
25%
R20k - R39 999
HH income pm
40%
R14k - R19 999
46%
R6k - R13 999
58%
< R6k
78% 0%
10%
20%
30%
July 2017
40%
50%
60%
70%
80%
90%
WHEN INCOME AND EXPENSES DO NOT MEET……WHAT DID YOU DO? 52%..... this has happened at least once in the past year. 67% 56% 58% 42%
36% 37%
24%
Borrow from a friend / relative
44%
41%
34% 36% 35%
32%
24%
Use savings
Less than R6k
19% 21%
Pay bills late / miss payments
R6k – R13 999
July 2017
17%
22%
19% 17%
Personal loan from Borrow from my stokvel institution or micro (based on those who lender contribute)
R14k – R19 999
R20k+
WHEN INCOME AND EXPENSES DO NOT MEET………… Pay bills late/miss payments
32%
33%
19% Less than R6k
34%
24%
R6k - R13 999
19% R14k - R19 999
2016
2017
July 2017
22%
21% R20k+
WHEN INCOME AND EXPENSES DO NOT MEET………… Borrow from my stokvel (based on those who contribute)
41%
48%
36%
34%
Less than R6k
R6k - R13 999
40%
35%
R14k - R19 999
2016
2017
July 2017
41%
44%
R20k+
TO STRETCH THEIR BUDGETS FOR GROCERIES – MORE HOUSEHOLDS ARE BUYING IN BULK 92% 91%
Looking out for discounts / specials
60% 61% 54% 67% 54% 54%
Using a cheaper supermarket for some / all groceries
Buying in bulk Changing to cheaper brands
2016 July 2017
2017
ENTREPRENEURS Self Employed & “Slashers”
SELF EMPLOYED
DECLINE IN SELF EMPLOYED 30% 25%
How was business funded?
20% 15%
12%
12%
12%
12%
10%
8%
5% 0% 2013
2014
2015
2016
2017
July 2017
Used own savings/ investments
68%
Loan from family/ friends
22%
ENTREPRENEURIAL APPETITE & BARRIERS
Barriers to starting your own business
I think about it all the time/ think about it a lot Gen Y
26%
Gen X
30%
Baby Boomers
17%
July 2017
Lack of funding
48%
Am not brave enough/don’t have the courage
16%
Can’t think of a good idea/ not sure what to do
16%
I don’t have the time
15%
“SLASHERS” (EMPLOYED BUT WITH SIDELINE JOB/BUSINESS DISSIMILAR TO PRIMARY JOB)
SLASHERS Currently earn additional income, over and above your normal job Yes – something similar to my current job
13%
Yes – something that is not at all similar to my current job
24%
No
63%
Which job would you prefer to make a career out of?
Base: 943 working individuals earning R5k+ per month July 2017
Current job:
47%
Other job:
53%
WHY MORE THAN ONE JOB………? 55%
We like to live comfortably and additional income helps We are saving for a rainy day
To pay off debt Financially we cannot make ends meet We want to retire more comfortably Need to take care of my family (e.g. parents, siblings) We are saving to travel Saving for children's education We are saving to leave something to our children We are saving to buy a house
July 2017
45% 43% 38% 37% 37% 31% 29% 29% 26%
SLASHERS – 2nd Jobs Event planner
Catering Sell stationery to schools
Errand runner / messenger
Sell Herbalife
HR consultancy
Party equipment Hiring
Bookseller
Grow and sell vegetables July 2017
Photographer
Musician
Manufacture kiddies clothing
Make costume jewellery
Online boutique Cash wash
Garden service
Installing water treatment equipment
Barber
Tutor
Carpentry
Nail technician
Internet café
Waitressing Sell “flat stomach” tea
SLASHERS - ATTITUDES % Agree Having more than one job has impacted my family life/personal life negatively
17%
I find it difficult to manage everything in my life by having more than one job
26%
I don’t have time for more than one job, but financially I need the money
