Consumers plan less discretionary spending

2010-07-15 08:06

South African consumers, who have had a rough ride over the past

couple of years, plan to decrease their discretionary spending, a new survey has

found.

According to the latest MasterCard Worldwide Survey of Consumer

Purchasing Priorities released today, 45% of people questioned will decrease

their spending on discretionary items over the coming six months.

This is in comparison to 38% six months ago.

While 44% were expecting to maintain their spending on

discretionary items, only 11% said they planned to increase their spending,

which was down 7% from six months ago.

The survey is released twice yearly and provides insights into

discretionary spending priorities for the six months ahead.

The latest survey was conducted from March 15 to April 12.

People were planning to spend most on fashion and accessories (44%)

followed by dining and entertainment (33%). The purchase of consumer electronics

(22%) overtook buying or upgrading a home (21%) as the third most important

purchasing priority.

However, few consumers were planning to spend on travel (4%),

fitness (14%), and tuition (15%) in the coming months.


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