SA Retailer Confidence Wanes in Q1 Amid Election Uncertainty

Despite heightened sales volumes, South Africa’s retailer confidence has dwindled in the first quarter, likely due to consumer apprehension about purchasing significant items ahead of the national election. The Bureau for Economic Research’s recent survey indicated a decline in confidence levels to 34 index points, with profitability remaining subdued. Nonetheless, non-durable goods retailers experienced improved volume growth, while textiles, clothing, and footwear retailers saw a resurgence in sales volumes.