Over a year ago the lives of South Africans changed very abruptly. Overnight we were confined to our homes for everything from work to socialising over video.
During this time we saw ecommerce flourish, but FNB has had a look at its data and reports that it isn’t just ecommerce that is attractive to its customers.
“The pandemic has accelerated the use of digital platforms and home delivery services for a safer and convenient exchange of goods, services and payments,” says chief executive officer at FNB Retail and Private Banking, Raj Makanjee.
Looking at its data, FNB says that while Uber is the most used delivery app, use of Mr D Food has increased 140 percent since the start of the lockdown. Even on a month to month basis FNB notes that use of Mr D Food is on the increase. Interestingly, folks are spending more on these platforms compared to how much they were spending at the start of lockdown.
Looking at video streaming, as you might suspect, more FNB customers have started subscriptions on the major platforms. Since the start of lockdown the number of customers who have paid for a subscription has increased. Netflix subscriptions have increased 64 percent, Showmax subscriptions increased 78 percent and subscriptions to Amazon Prime Video increased 50 percent among FNB customers.
Music streaming has also become more popular since the start of lockdown.
Surprisingly, YouTube subscriptions jumped up 188 percent since the start of lockdown. This is likely driven by the culling of Google Music and the move to YouTube Music where a subscription is included in a YouTube Premium subscription.
Apple Music saw the lowest growth at 18 percent growth while Spotify subscriptions grew 83 percent.
“Individually, customers are not necessarily spending more on any of these categories, however adoption is certainly growing across our base. There is clearly a significant shift in consumers’ appetites and choices, based on where people choose to spend their money,” concludes chief executive officer at FNB Card, Chris Labuschagne.
[Image – CC 0 Pixabay]