Gcina Ntsaluba
2 minute read
12 Feb 2020
6:35 am

Generation Z move to credit, and 66% get clothing loans – study

Gcina Ntsaluba

The next most popular consumer credit products among those born in or after 1995 are non-bank personal loans, at 8%, the study found.

Picture: iStock

A newly released research study by TransUnion shows that South Africa’s Generation Z (Gen Z) consumers (born in or after 1995) are becoming increasingly credit active and helping fuel the growth of the consumer credit market. The report said that the most commonly held products among credit active South African Gen Z consumers were clothing loans. “Gen Z are eight times more likely to have this product than non-bank personal loans, the next most popular consumer credit product (8% credit activity),” said Carmen Williams, a research and consulting director at TransUnion South Africa. She said Gen Z consumers were the...