How retailers can add value for consumers in turbulent economic times
Apr 17th, 08:09
For the most part, it has been a dismal year for South African retailers; elevated household debt, higher fuel prices and an increase in value-added tax squeezed consumer spending. However, Ackermans, South Africa’s longest standing value retailer, performed well over 2018 reporting growth of just over 10% which is three times more than the industry benchmark. “2018 was a tough year for retailers, and the outlook for 2019 remains challenging. We face an environment where new entrants continue to disrupt the market. This, combined with sluggish GDP growth and a financially over-extended consumer, means that retailers remain under pressure,” says Charl Cronje, Managing Director of Ackermans.
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