The latest NielsenIQ State of the Retail Nation report shows that shoppers in South Africa are not venturing out to retailers as much as they did before - but they are still spending more and appear to be shrugging off…
Several factors have recently culminated in a perfect storm of threats that South African retailers have to defend against, says Howard Barratt, principal consultant at Retail Directions.
Grocery price inflation continues to rise in South Africa, despite the best efforts of retailers not to pass on costs to shoppers, with some items faring worse than others, according to the latest NielsenIQ monthly State of the Retail Nation…
While the effects of COVID-19 continue to soften across the globe, the rise in inflation appears to cause severe concern amongst many shoppers.
New sales data shows that the South African shoppers have undertaken some big shifts since the onset of the Covid-19 pandemic in March 2020 - including where they shop and what they buy.
South Africa is seeing a strong push from retailers into online shopping and same-day delivery space, with the likes of Woolworths, Pick n Pay and Checkers looking to capture a slice of this growing segment.
The South African Reserve Bank's Monetary Policy Committee last month hiked the repo rate by 50 basis points to 4.75% - its biggest margin in more than six years - in an effort to combat rising inflation.
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