Top things you didn't know about student
spending
A recent report by Student Village reveals
shocking things about SA university student spending.
The report reveals things you didn't know about students:
1) Money does not define them
2) Students are spending MORE than the usual South African
(an average South African spends R35900 per year)
3) Average student spending is R3510 per month which equals to
R42,120 per annum. With 938,000 students in South Africa, they together are
potentially spending R39,5billion per year.
5) 78% of student income come from their parents. 24% get their
money from part-time work and 18% from a bursary or sponsor
6) 70% of students save up to R250 for emergencies
7) Girls spend more than boys (okay, that we already knew)
8) Students from different ethnic backgrounds spend differently
i.e
·
White students: Food & groceries, holiday travel,
entertainment and alcohol,
·
Colored: Smoking, bling, magazine, clothing and footwear
·
Black: toiletries, cosmetics, take-aways, gadgets, extra-tuition
and music
9) Highest value of student purchases are:
·
Cellphones (potential sales of 337 680 per annum)
·
Premium Clothing
·
Laptops and CDs
10) 20% of students have credit cards.
11) 24% of students have retail accounts.
12) 70% of students are confident that they will settle their
debt. More than half of these are comfortable to settle their own debt, and the
other 45% are reliant on family and friends to do this for them
13) Non traditional advertising is one of the biggest
influencers when making purchases.
14) More students will shop online if they had the resources
15) Students like simple, transparent, trustworthy banks
The top
priorities of students are:
• Rent
• Food &
groceries
• Clothing
& footware
• Petrol
• Extra tuition
• Computer
equipment & other gadgets
• Entertainment
• Alcohol
beverages
• Motor vehicle
repayment and public transport costs.
• Toiletries
and cosmetics
• Hairdressers
and Beauticians
• Motor
insurance
• Software and
Computer games
• Music
• Bling
• Cigarettes
• Airtime
·
• Laundry
• contraception
The research was conducted in May 2013, targeting males and
females aged between 18-24 from all South African tertiary institutions. The
results are based on 681 respondents.
