South African Retail Report - September 2018

September 11, 2018

Despite the recent petrol hikes, VAT increases and higher income tax, the FNB/BER consumer confidence index recorded 4 points decline, the index remains fairly high at 22 points in the second quarter of 2018. While this may be the case, it has not necessarily translated into increased consumer spending since retail trade sales have recorded meagre growth. Given the prevailing economic conditions, consumer expectations are likely to adjust and be in line with the current economic reality. As such, retail sales may continue to be low and we may see more retailers downsizing or consolidating their stores.

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