4 million and rising – SA’s new black middle class
For the last decade, the Institute has been at the forefront of research into South Africa’s new black middle class. In 2006 the Institute launched its seminal Black Diamond study, which predicted that Black Middle Class spending power would skyrocket. Since then the segment has been vastly transformed and has a combined spending power of R400 billion a year.
This new order demands new strategic thinking from businesses and manufacturers – from how they create and sell products, to the way they distribute and market them.
Our study covers the following elements:
– A demographic overview of the black middle class segment
– Outline how the segment is evolving
– Attitudes and buying behavior
– Key drivers and tensions
– Financial management
– Media consumption