Retail Sales to grow 4.5% this year

March 14, 2013 |

In real terms it is expected that retail sales will grow by 4.5% versus 5.7% last year. Consumers are under greater financial pressure due to the increase of cost of living which is driven by the likes of fuel and electricity hikes. Although this anticipated growth is showing a slight decline on the previous year, it is however still almost 50% better than the average anticipated GDP growth for the country.

The total value of formal retail sales is expected to amount to just over R 747 Billion Rand. According to Market Research at the University of SA the retail outlets which are expected to show the highest real growth rates are General Dealers (4.8%) Furniture and Appliances (5.0% and the leaders being Clothing, Footwear and Leather retailers (7.0%).

Category: Blog

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