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SURVEY SHOWS MARKED GROWTH IN HIGH INCOME BLACK HOUSEHOLDS

Those wanting to pinpoint consumer growth areas in our society need look no further than high income black households which, according to research conducted by the Bureau of Market Research (BMR) showed a dramatic growth in their income over the past decade.

The research report “Household Income and Expenditure Patterns and Trends, 2007 – 2008”, compiled by ME Masemola and Prof H de J van Wyk, revealed the following:

  • There were 13.39 million households in South Africa during 2008 with a combined income of approximately R1.53 trillion compared with R1.37 trillion in 2007.
  • More than half (51.5%) of these households were found in the lowest income group (R0 – 50,000), while 81% of households in the highest income group (R750 000 plus) belonged to the white population group, according to BMR.