Retail sales fall 2.5%: Stats SA – SABC News

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Figures from Statistics South Africa (Stats SA) show that retail sales declined 2.5% year-on-year in March 2021 compared to March 2020. The main negative contributor to this decline was general retailers.

Stats SA notes that the largest negative annual growth rates were recorded for retailers of pharmaceutical and medical products, cosmetics and toiletries as well as general retailers.

Retail sales were down 3.7% month over month in March 2021 compared to February 2021.

Nedbank economist Nicki Weimar said the cut could be a re-prioritization of consumer spending habits.

“So general resellers would be all your Pick ‘n Pays, Checkers, Food and Beverages, and other products as well. So I think the thing is that they are really big. This is a very large category of retail sales – this is the first thing to note. I think the second thing to note is that they have experienced exceptionally strong growth for an extended period. So, we have to see this number in a little bigger perspective. The first is that the areas where the weaknesses come from have probably been working for some time. Some moderation was therefore probably to be expected in this regard.



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