Women ‘have economic clout’
CONSUMERS: BUYING POWER EXTEND TO PURCHASING HOMES AND VEHICLES, SAYS REPORT
Single women have been dominating the property sector over past three years.
Miss Universe Zozibini Tunzi said “let girls take up space and cement themselves” – but it seems women have been taking up space in property for the past three years.
Slowly but surely, women are demonstrating that they have increasing clout in South Africa’s economy. This should not come as a surprise because females have always been important consumers.
Of the 18 million female consumers in SA, according to global measurement and data analytics company Nielsen, 71% are responsible for grocery shopping, while 60% are the primary purchaser within households.
According to the report, the influence is still to grow as 21 million female consumers are expected in the local market by 2025, with labour force participation numbers set to increase from 9.5 million to 11 million.
“In terms of how frequently they shop, women are in-store at least once a week, consisting of a bulk shop once a month and top up shops three times a month,” the report says. Common items in their monthly shopping baskets include hair and skincare products and sanitary protection.
Their short visits to the store usually include fresh meat or poultry, dairy products, bread or freshly baked goods and laundry and household cleaning products.
And their buying power does not end at the mall. Over the past three years, single women have been dominating the property sector.
Women are the largest single group of property buyers in South Africa – bigger than married couples or single men.
According to research group Lightstone, almost 72 000 single women bought residential properties in South Africa last year. They have been dominating the