CHRIS GILMOUR: Back to work trend drives clothing, footwear, textiles and leather sales
The availability of credit at various outlets is a large part of the explanation
26 April 2023 - 05:00
SA consumers have settled into a familiar pattern in which food sales growth is printing at residual levels, while clothing, footwear, textiles & leather (CFTL) sales are strong, going by Stats SA’s February 2023 retail sales update released last week.
A large part of the explanation is the availability of credit in the various CFTL outlets. Those who can afford the higher interest charges are obviously spending on this discretionary category. ..
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