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Is SA's retail sector in deep crisis?

13 January 2020 7:09 PM
Tags:
Electricity
Retail
#Eskom
#EskomLoadShedding
retail sector

South Africa's retail sector has not seen growth in a long time. Is there a glimmer of hope?

The retail sector in SA does not look healthy.

One example is - embattled Edcon recently decided to shut down its massive Rosebank Edgars store.

Last year they closed down other under-performing stores.

How bad really, is South Africa's retail sector?

This is somewhat self-imposed over the retail sector. We've had huge store expansion. It's not all on the back of a weak consumer. They continue to open a lot of space. Unfortunately we think it's going to get worse before it gets better.

Evan Walker, portfolio manager - 36ONE

I don't think consumers are feeling very confident. We're not going to feel confident after the Eskom increase coming in April. South Africa looks quite constrained.

Evan Walker, portfolio manager - 36ONE

There's no doubt that businesses need to reinvent themselves. People are also moving aggressively to online shopping.

I think to a large extent as well they don't offer the level of service required for people to buy what they need.

Evan Walker, portfolio manager - 36ONE

Listen to the full interview on the retail sector below.

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This article first appeared on 702 : Is SA's retail sector in deep crisis?


13 January 2020 7:09 PM
Tags:
Electricity
Retail
#Eskom
#EskomLoadShedding
retail sector

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