CHRIS GILMOUR: Retail sales are holding up better than expected
An apparent increase in the use of credit could be boosting the numbers
21 December 2022 - 07:17
In the face of a relentless squeeze on consumers’ pockets and interest rates rising substantially every two months, SA retail sales are holding up remarkably well.
The reason for this is not clear. It may be that in the discretionary purchase space — clothing, footwear, textiles & leather (CFTL) and furniture & appliances — consumers are getting a liking for credit again. But this is definitely not the case in the nondiscretionary (mainly food) space...
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