South Africa, March 10 -- Millennials make up 27% of the South African population, translating into a buying power of 14 million people. As the upcoming generation of big-spenders, consumer power is falling swiftly into the hands of millennials.

"Knowing where and why they spend their money, is critical for business growth. One thing is for sure, if your business isn't taking strides to go digital, chances are your millennial consumer numbers will drop," says Derek Cikes, commercial director at Payflex who provides the following insights:

1. SA millennials have bleak expectations of the economy

One of the key findings of the recent 2019 Deloitte Global Millennial Survey, was that economic pessimism is at an all-time high amongst millen...