Key takeaways:
- Consumer expenditure is a key driver of South Arica’s economy.
- Consumer confidence dropped to a record low in June 2020.
- South Africans are highly indebted and struggling to service their debt.
- Credit granted has dipped since February, a reflection of the diminished ability to borrow and heightened consumer cautiousness.
- Online purchases have surged since the beginning of the national lockdown.