Rewards programmes buoy consumers

Large numbers of South Africans are turning to rewards programmes to relieve COVID-19 induced financial problems. According to the latest Old Mutual Savings and Investment Monitor, financially strapped South Africans are using rewards programmes to stretch household budgets and supplement their incomes. The latest report also shows that buffer savings have been eroded since 2019. In addition, the resilience that high earners traditionally show during a recession is being tested thanks to the impact that the Covid-19 pandemic is having on all sectors of business where cost-cutting, reducing salaries and retrenching staff are now commonplace. Courtesy #DStv403