Summer Spending Survey - 2023
Every year, we conduct a comprehensive survey to examine how people plan to spend during the upcoming festive season. This study encompasses various aspects, including budget projections, travel plans, gift preferences and the selection of holiday destinations. It's worth noting that our annual report has received significant coverage from major media outlets.
The data reveals a growing awareness among South Africans regarding the prioritisation of necessities over luxuries. The responses we collected this year confirm a noticeable shift in consumer preferences and priorities. This insight reflects evolving attitudes and sheds light on the changing dynamics of spending patterns within the South African context.
About our respondents
This year, we surveyed 12,463 people from different backgrounds to find out how they plan to carry out their year-end plans.
Total projected spend
Based on annual population numbers, we estimate that festive spending will result in a total expenditure of R224 billion.
Festive budgets
South Africans expect to spend 4% less over the holidays than in 2022.
Servicing extra costs
We see a decline in people utilising savings to carry out festive season plans, when compared to last year.
Gifting - who can expect a present?
Notably, South Africans intend to keep up the spirit of giving this year despite financial constraints.
Shopping trends - online vs brick-and-mortar
It's noteworthy that online shopping has maintained a steady pace since 2022.
Travel - car, plane, or by bus?
This year saw the lowest proportion of people saying they will be travelling during the festive period since the survey was first run in 2018.
2022
2023
Attitude for 2024
Most of the respondents express optimism and excitement for the upcoming year. However, almost a third are feeling anxious or scared about 2024. This sentiment could be linked to the challenges many households faced in the past year.
Download the full survey results
Download our full research report & press release for 2023.