What are young people spending on?
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GUEST - Ashley Saffy, Head of Spend and Customer Value Management at FNB Card
The youth market, comprising 35% of the population, has considerable cash-driven purchasing power. In South Africa, young people are estimated to have around R120-billion of their own disposable income, and not simply because of their spending that’s a result of their influence on parents and caregivers.
Combined, this group represents significant spending power and they will be an even more powerful force in the future as an impressive number of them (63%) are already actively saving and investing, while 10% of young adults have sought entrepreneurial ways to earn an income.
The youth market, comprising 35% of the population, has considerable cash-driven purchasing power. In South Africa, young people are estimated to have around R120-billion of their own disposable income, and not simply because of their spending that’s a result of their influence on parents and caregivers.
Combined, this group represents significant spending power and they will be an even more powerful force in the future as an impressive number of them (63%) are already actively saving and investing, while 10% of young adults have sought entrepreneurial ways to earn an income.