Figures by Statistics South Africa (Stats SA) show that retail trade sales decreased by 2.5% year-on-year in March 2021 compared to March 2020. The main negative contributor to this decrease was general dealers.
Stats SA notes that the largest negative annual growth rates were recorded for retailers in pharmaceuticals and medical goods, cosmetics and toiletries as well as general dealers.
Retail trade sales decreased by 3.7% on a month-to-month basis in March 2021 compared with February 2021.
#Retail trade sales decreased by 2,5% y/y in March 2021. #Sales were down by 3,7% in March 2021 compared with February 2021.
Listen here for more: https://t.co/G43rv23vT8#StatsSA #trade pic.twitter.com/jPExqVkskT
— Stats SA (@StatsSA) May 19, 2021
Economist at Nedbank Nicki Weimar says the decrease may be a reprioritisation of consumer spending patterns.
“So general dealers, that would be all your Pick ‘n Pays, your Checkers, your food and beverage and other products as well. So, I think the thing is that they are very big. They are a very big category of retail sales – that’s the first thing to note. I think the second thing to note is that they had exceptionally strong growth for an extended period. So, we do need to see this number from a little bit of a broader perspective. The first being that the areas where the weaknesses are coming from have probably been performing for quite some time. So, some moderation in that regard was probably to be expected.”
#CPI inflation hit a 14-month high in April, mainly driven by rising #transport and food prices. The rate was 4,4%, up from 3,2% in March.
Listen here for more: https://t.co/my3YvLKh5L#StatsSA #inflation pic.twitter.com/VfpPZyBX0n
— Stats SA (@StatsSA) May 19, 2021
