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Consumers are encouraged to manage their debt before asset seizure
The US-Israel war on Iran has continued to exert significant pressure on consumers globally.
This is according to the Market Research Foundation’s latest Marketing All Products (MAPS) survey.
The war has resulted in high energy costs, which have in turn disrupted supply chains and impacted the price of food and groceries.
These factors constitute the primary concern for almost 50 per cent of respondents
Market Research Foundation CEO Johann Koster says consumers were already under immense pressure due to the Russia-Ukraine war.
“We are only just seeing interest rates going down, inflation coming down to kind of normal levels, and consumers were starting to adjust to that, but now we’ve had this Middle East conflict, which I think will again put us right back where we were. The pressure cooker remains there, and the consumer is very much under pressure.”
The MAPS survey is a 12-month rolling survey that provides a comprehensive, independent view of consumer behaviour, product ownership, and media consumption in South Africa
