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Amidst global trade war ensuing instigated by the United States of America (USA) and has resulted in an onslaught between the two biggest economies in the world, China and America, consumers in South Africa are showing resilience and are still spending their money.
There is much uncertainty in the country with the VAT hike on the horizon, this would effectively lead to consumers prioritising their spending, however, according to Stats SA, retail trade sales increased by 3.9% in February 2025, year-on-year.
According to Stats SA, the largest positive contributors to this increase were:
· Retailers in textiles, clothing, footwear and leather goods (15,7% and contributing 2,3 percentage points); and
· General dealers (3,4% and contributing 1,6 percentage points).
Stats SA says seasonally adjusted retail trade sales decreased by 1,3% in February 2025 compared with January 2025. This followed month-on-month changes of 0,7% in January 2025 and 0,0% in December 2024.
According to Stats SA retail trade sales increased by 4,4% in the three months ended February 2025 compared with the three months ended February 2024. The largest positive contributors to this increase were:
· Retailers in textiles, clothing, footwear and leather goods (10,1% and contributing 1,9 percentage points); and
· General dealers (4,1% and contributing 1,8 percentage points).
Seasonally adjusted retail trade sales increased by 1,3% in the three months ended February 2025 compared with the previous three months. The largest contributor was retailers in textiles, clothing, footwear and leather goods (4,6% and contributing 0,8 of a percentage point).
