SA Black women's spending power increases
Nov 06 2008
Retail Wrap >>

Recent research by Unilever and TNS Research Surveys has found that SA black middle class women's spending power was R120 billion in 2008. That amount represented about 40 percent of the annual spending of all the country's women. 

Since research was initiated on the subject in 2005, the number of upwardly mobile middle-class black South Africans - the so-called "black diamonds" - increased from one million to three million people.

"It was incredibly exciting to find that for the first time in our history black diamonds' spending power matches that of white South Africans. In just one year it has leapt up from R180 billion in 2007 to R250 billion in 2008," said Professor John Simpson, director of the University of Cape Town's Unilever Institute. Black diamond women alone now represent one tenth of the country's entire adult population. 

TNS Research Surveys' Rudo Maponga said this shift had also disrupted sales trends in a number of product categories, including non-traditional categories such as motor vehicles. She said the economic empowerment meant that "black diamond women" were increasingly assuming the role of primary breadwinners. The vast majority now had the final say when it came to purchases.

"The findings confirm some of our expectations. While we found women make decisions about 89 percent of day-to-day purchases, they are also responsible for 69 percent of major household purchases, like kitchen appliances. 

Adapted from Source: www.sagoodnews.co.za, 31 October 2008