With Black Friday behind them and the holiday season underway, South Africans are heading into December with plans to spend but with a far more cautious approach.
According to Wonga’s Summer Spending Survey, consumers are expected to spend an estimated R289-billion over the festive period. But despite the impressive figure, the mood is notably restrained.
The survey reveals that 40% of shoppers plan to spend less than they did last year, citing rising living costs and tighter household budgets as major concerns. Many say they are being more selective, prioritising essentials and value-for-money purchases.
Wonga collected responses from more than 10,000 South Africans, with participants indicating an average expected spend of just over R6,000.
Food, drinks, gifts, and local travel remain the leading categories for festive spending, although survey data suggests consumers will be looking for deals and stretching their rands further as they navigate the season.