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Makro Unveils 2024 Trends and Shopper Sentiments

January 22, 2024

Makro South Africa Unveils Positive New Year Outlook Through Latest Survey Findings

Makro South Africa has unveiled the positive outlook of South Africans for the new year through the findings of its latest survey. Conducted with 1000 participants, the survey delved into intriguing consumer preferences, capturing sentiments regarding the new year, shopping priorities, preferred channels, and payment methods. 

Katherine Madley, Vice President of Marketing at Massmart, highlighted the goal of gaining deeper consumer insights. Noteworthy trends emerged from the survey, include:

  • Omnichannel shopping: 64% of consumers are omni-channel ready, utlilising both online and in-store shopping experiences depending on the product and convenience.
  • Shopping trends: Consumers say they tend to prepare for the new year during the November to January period with customers stocking up on food, pantry items, office supplies, toys, and home products during this time.
  • Shopping priorities: Grocery basket and stationery essentials are at the top of consumer shopping lists, with 65% prioritising on grocery items, and 56% prioritising on stationery items.
  • Age influence on outlook: Individuals aged 50 and above emphasized the importance of having the necessary tools or products for feeling well-prepared for the New Year, while 41% of the youth expressed interest in personal electronics.
book on a white wooden table
Photo by Ylanite Koppens on Pexels.com

Positive Outlook Despite Economic Climate

“We embarked on this consumer survey to get insights and sentiment on how consumers are feeling about the new year and ascertain their preparedness in terms of their shopping priorities, channels they prefer and how they intend to pay for purchases. Despite the current economic climate, the survey results indicated that 81% of respondents expressed a positive outlook for 2024, with individuals aged 50 and above highlighting the importance of having the necessary tools or products for feeling well-prepared for the New Year”, explains Katherine Madley, Vice President of Brand Marketing at Massmart. The survey collected data from 1 000 South Africans across the country, of varying ages, ethnic backgrounds and household incomes.

Makro’s grocery basket and stationery essentials remain at the top of consumer shopping lists with 65% and 56% of respondents respectively affirming these as their must-have items in preparation for the new year. Madley explains that the retailer continues to invest in a diverse range of grocery and stationery items to ensure that shoppers are able to get all their needs under one roof.

“We have observed over the years that our Makro customers start preparing for the new year during the November to January period which usually means stocking up on food or pantry items, office and home office supplies, toys for the festive season and even outdoor and home products as they plan to invest further into their homes. While our findings aren’t reflective of the entire South African consumer base, they provide a compelling snapshot of the emerging trends”, says Madley.

Emerging Trends and Preferences

The survey unveiled a keen interest amongst the younger consumers in Makro’s personal electronics at 41%, homeware and décor products at 40%, as part of their preparation for a new chapter in res or starting their professional journey. Furthermore, 64% omnichannel-ready consumers confirmed that they explore both the online convenience and the in-store shopping experience depending on the product and which platform will provide a seamless and efficient experience.

When engaged on how consumers intended or preferred to fund their purchases, the results indicated a change in consumer behaviour from the traditionally used credit usage through banks and store credits.

The preferred method of payment identified was cash or debit card followed by year-end bonuses.

“We are committed to providing quality, affordability, and customer satisfaction. We know that our Makro customer is looking to continue providing what we call ‘abundance’ to their families. Be it in the small things like their favourite biscuits and treats, or one of the year’s must-have toys, consumers still use this time of the year to invest in those items that make their families happy – and our mission is to continue offering those at the best possible price point in the market,” adds Madley.

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