Consumer spending is suffering immensely, and the outlook is dismal as the SA economy battles rolling power cuts 🔒
I’m exceptionally concerned about the SA economy, and specifically the retail sector. Over just a few recent days, Edcon announced closure of its Rosebank emporium; Massmart indicated the shutdown of Dion Wired and some Masscash outlets; and Stat SA numbers for November, which incorporated the “Black Friday” period, were uninspiring at a 2.6% increase
Consumer spending is suffering immensely, and the outlook is dismal as the SA economy battles rolling power cuts. Sharing my fears is Syd Vianello, independent retail analyst, who takes a whip around recent events in the sector and does not find much to celebrate.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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