South Africans are more than twice as likely to wait for a sale price to make a purchase than the global average.
This is one of the findings from a PayPal research study on holiday shopping consumer behaviour trends, done in conjunction with Kantar Millward Brown and consisting of more than 11 000 interviews in more than 10 countries, including South Africa.
“Our research showed two major trends in the South African market with regards to shopping for the festive season,” says Efi Dahan, senior director and GM: Eastern Europe, Middle East & Africa at PayPal. “South African consumers are looking for a convenient, hassle-free shopping experience, and are more likely to use a mobile device to achieve this. They are also looking for the best possible deal and are willing to wait to get it.”
PayPal data showed that while 69% of respondents still plan to holiday shop in physical stores, 31% of consumers are planning to shop online only this holiday season. Of those online shoppers, 43% will make a purchase via mobile, more than 12% higher than the global average.
“Mobile purchasing is becoming a powerhouse in South Africa,” says Dahan. “Mobile penetration is high in the region and many people are looking for a more convenient and easy shopping experience.”
Research also shows that many consumers are transitioning to online shopping because of the chaotic environment of shopping centres. A massive 78% of people said they did not want to shop at physical stores because of the stress brought on by crowds, and 71% said the prospect of waiting in long queues deters them from shopping in the mall.
The economic climate in South Africa means that shoppers are very price conscious, with 70% of survey respondents concerned about going over budget this holiday season.
Many of the consumer respondents were willing to wait as long as it takes to get a sale or discount price on an item: 19% of consumers in South Africa said they would only buy an item on sale, which is more than double the global average of 9%.
“South Africans are on the lookout for the best bargains this holiday season,” says Dahan. “There is a great opportunity for them to look at overseas markets, such as the US on Black Friday, to get the best deals on the items they want.”
Of South African consumers surveyed, 88% of were aware of Black Friday, with 76% saying they planned to take advantage of Black Friday deals for their holiday shopping.