The South African grocery retail market, under pressure for years due to economic challenges, is showing early signs of recovery in 2024. While macroeconomic factors like high unemployment and interest rates have affected consumer spending, recent data indicates a shift. More consumers, both high- and low-income, are moving towards premium products, with rising demand for convenience, online shopping, and food-on-the-go. High-income consumers are also prioritizing healthier and sustainable foods. Opportunities are emerging in online retail, discount formats, AI, and retail media, making the market more dynamic and responsive to global trends.

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