New report shows that South Africa’s retail sector is coming under a lot of pressure.
The retail sector has not been spared from the difficult economic environment facing South Africa in 2023.
“This makes sense given the weaker performance of the retail market so far in 2023,” the report said. Furthermore, nationally, the cap rate for smaller community and neighbourhood centres totalled 9.9% and 10.4%, respectively – both higher than Q1 2023.The Retail Trade survey from the Bureau of Economic Research recorded a drop in retailer confidence from 34% in Q1 2023 to 20% in Q2 2023 – dropping further below the neutral score of 50%.
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