South Africans have spent R354 billion on food and liquor for the past 12 months, ending September 2024, according to the State of the Retail Nation report by NIQ South Africa.
The report also showed that consumers spent R274bn on other goods including non-alcoholic beverages, that include personal and healthcare products, snacks, home and pet supplies, baby food and care, and tobacco products.
The most recent quarter has seen year-over-year growth of 2.6% which translates to a sales value change of R6.7bn compared to Q3 2023.
“Essential expenditure remains an imperative, with consumers prioritising spending more on utilities and education, above grocery and household items. In the FMCG sector, we see particular emphasis on Fresh Produce, Health & Wellness, and Fresh Meat,” Zak Haeri, MD, NIQ in South Africa said.…