Covid-19 pandemic transformed the way SA consumers shopped and spent their money, says Visa
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RESEARCH released by Visa this week shows that consumers were optimistic about economic recovery, increasingly comfortable spending on non-essentials, luxury items, dining and travel.
The study that tracks the impact of the pandemic on consumer attitudes and spending across Central and Eastern Europe, the Middle East and Africa (CEMEA) revealed that in South Africa, 42 percent of consumers said they now shopped for groceries online.
Overall, Visa’s survey found that the Covid-19 pandemic had created significant opportunities for the e-commerce channel, especially those retailers entering the digital economy for the first time, and those consumers who made their very first online purchases.
Visa South Africa Country Manager Aldo Laubscher said their research showed how the Covid-19 pandemic had transformed the way the region’s consumers spend their money, with many of these significant behavioural changes likely to continue after the pandemic.
“As online shopping and contact less payments become the ‘new normal’, it is more important than ever that businesses adapt to the changing consumer demand for a digital experience, which is increasingly seen as a safer and more seamless alternative to cash,” Laubscher said.
BUSINESS REPORT ONLINE