Photo credit: DiasporaEngager (www.DiasporaEngager.com).
by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – SOUTH Africa’s retail sector is to benefit to the tune of more than R2 billion (US$105,5 million) during the upcoming Easter holiday.
This is according to a mixed method research study conducted on behalf of Capital Connect, a finance technology firm.
The research forecasts that the total retail sector will benefit from a R2,219 billion boost in turnover over the Easter period, with positive macroeconomic trends expected to help sustain a recovery in retail sales throughout the year.
This follows a difficult 2023, when higher interest rates, persistent inflation and low growth dampened consumer spending.
With inflation tapering and interest rates set to decline, retailers are likely to benefit from improved economic growth and consumer sentiment for the rest of 2024.
“The Easter season holds promise for retailers that are able to capitalise on the latest consumer trends,” said Steven Heilbron, Chief Executive Officer of Capital Connect.
“Those that are able to quickly expand their product ranges and offerings when there is an upsurge in demand, launch creative promotions, and react fast to volatile market conditions will outperform the rest. Diversification of product lines and channels to market are proving to be particularly successful approaches for retailers in these uncertain times.”
The Bureau of Market Research (BMR) conducted the mixed method research study.
– CAJ News
Source of original article: CAJ News Africa (www.cajnewsafrica.com).
The content of this article does not necessarily reflect the views or opinion of Global Diaspora News (www.GlobalDiasporaNews.com).
To submit your press release: (https://www.GlobalDiasporaNews.com/pr).
To advertise on Global Diaspora News: (www.GlobalDiasporaNews.com/ads).
Sign up to Global Diaspora News newsletter (https://www.GlobalDiasporaNews.com/newsletter/) to start receiving updates and opportunities directly in your email inbox for free.
