Middle-class South Africans would rather buy a generator than a car
Many South Africans are looking at purchasing backup power sources, according to an African Bank Consumer Research Report on the low- and middle-income market.
The report, done in conjunction with In On Africa and The Choice Architects, said that between 40% and 47% of respondents, regardless of their age or income, want to purchase backup power sources in the future when asked about their current possession and items that they would like to purchase.
It added that the need for electricity was a key theme raised in the open-ended question about how respondents’ living situations could be improved.
In response to a question asking respondents in the Youth segment what they don’t have but intend to get soon, 46% said they wanted a generator or battery, followed by a car at 43%.
However, it should be noted that many respondents in the Youth segment already have cars, with 25% of respondents already owning a car that they enjoy – surpassing the 12% who have a generator/battery. This is also the case in other segments that were questioned.
Responses from the Youth Segment are listed below (click to enlarge):
Looking only at student youth, a generator/battery (47%) was the main item that they did not have but intended to get soon, followed by Camera/s (excluding cell phones) at 41%..
It is a similar situation with adults, with 47% saying that they did not have a generator/battery but intended to get one soon, which was again higher than the 46% for motor vehicles.
Generators and batteries were consistently ranked as the main items that South Africans do not have but intend to get, including Entry-Level Adults (47%), Low-Income Adults (47%) and Seniors (40%)
Education challenges
According to the report, nearly all youth (94%) and roughly 80% of Adults are planning to study further to broaden their employment opportunities (38% of Youth and Adults) and have a better future (26% of Youth and Adults), however, respondents in the youth, adult and senior categories said that load shedding is a major challenge preventing them from studying further in 2023.
45% of respondents in the youth category said that dealing with load shedding and power instability was stopping them from studying further, with only a lack of money to pay for fees (66%) surpassing it.
It was a similar situation in the adult category, with only a lack of money (68%) beating the difficulties faced by load shedding (43%).
However, in the senior categories, not having enough money, dealing with load shedding, and work-life balance struggles were cited as the main challenges for furthering studies, each scoring 42%.
The report added that a lack of time and other responsibilities is also stopping people from advancing their education – especially amongst Low-Income, Low Middle and Middle Adults.
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