Skip to main content

South Africans spent R31k per second in retail stores

| Economic factors

A fact sheet about the retail trade industry by Stats SA showed the spending trends of South African consumers.

South Africa's retail industry can be divided into five categories: wholesale, retail, motor, food and beverages (restaurants and catering) and accommodation.
 
In 2017, the retail industry generated R1 trillion in sales (current prices). This means that in 2017 South Africans spent R31 900 per second in retail stores.
 
Retail spending had also increased in 2017 by 2,9% compared to 2016. Stores that specifically sold food and beverages saw their sales rise by 5% for 2017. This is the second biggest annual growth rate listed following the miscellaneous all retailers category. Sales for hardware stores dropped for 2017.
 
Image: Stats SA
 
Although general dealers had a low growth percentage of 1,1% they ruled the industry in terms of sales value. For every R100 that was spent at retail stores in 2017, R44 was spent by consumers at general dealers including supermarkets. Clothing and textile stores contributed R18 for every R100 of total sales.
 
Image: Stats SA
 
The most popular commodity in the retail industry is meat. Meat makes up 8,1% of the total sales income for 2014/2015. Pharmaceutical products were in second on the graph with 5,4% and the third most poular product was female clothing.
 
Image: Stats SA
 
The report showed that in 2014/2015 more than one-third of the 812 104 people working in the retail industry were employed in non-specialised stores. Colthing stores employ 23% of the retail workforce.
 
Image: Stats SA
 
Although non-specialised store employs the most amount of people their salaries are the lowest. R66044 was the average yearly salary for a person working in a non-specialised store. That is much lower than the average salary for the whole retail industry which was R99632.
 
Image: Stats SA

 

Pin It

Related Articles

By: Myles Illidge – MyBroadband South Africa’s Road Accident Fund (RAF) tax and General Fuel Levy (GFL) add between R272 and R483 to the price of a tank of fuel, depending on the size of your car’s tank.
By: Shaun Jacobs – Daily Investor Major changes are coming to VAT in South Africa, with the government looking to expand the range of food items exempt from the tax. 
By: Hanno Labuschagne - MyBroadband An anticipated strengthening of the rand and slipping global oil prices could result in lower petrol prices at the pumps next month.
By: Myles Illidge - MyBroadband Eskom has asked the National Energy Regulator of South Africa (Nersa) for a 36.15% electricity tariff hike for the customers it directly supplies and charges, Daily Maverick reports.
By: Yogashen Pillay – The Mercury Economists are predicting a big drop in petrol and diesel prices next month, saying it will bring much-needed relief to under-pressure consumers.