Retail volume sales continued to steadily decline due to restrictive market conditions and rising inflation. With South Africa falling into a technical depression, consumers were left with lower spending confidence.
Due to shrinking disposable incomes, increased sensitivity to prices was recorded amongst South Africans during the review period. As a result, many demonstrated less loyalty to branded products, with increasing interest in affordable private label.
Nestlé South Africa (Pty) Ltd consolidated its leadership of hot drinks, despite intensified competition recorded during the review period. This was due to the equity and affordability of its products across malt-based and flavoured powder drinks.
Innovation was often used as a key differentiation tool across the category, with new releases targeting a niche audience. An example could be taken from Joekels Tea Packers (Pty) Ltd, which introduced Tetley green tea, offered in the flavours of mint, apple and lemon.
Retail sales for hot drinks are expected to rise in both volume and current value terms. The trend will be supported by an improved economic performance, with consumers loosening their belts.
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This industry report originates from Passport, our Hot Drinks market research database.