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17 January 2018 03:45 (South Africa)
Business

Retail confidence down again

  • Branko Brkic
    branko3048 a ray
    Branko Brkic

    Brkic is the founder and editor of The Daily Maverick.

    He has edited magazines on business and politics, technology, and wildlife. He has also published fiction and non-fiction books, most of them in Serbian. Though he has never pretended to be a reporter, his wide knowledge of politics (especially in America), combined with his experiences in a disintegrating Yugoslavia, gives him an unusual outlook on events in South Africa.

    Despite the vowel-poor surname, he tells anyone who asks that he hails from Hyde Park, Johannesburg, having spent most of his adult life in South Africa.

    Recent columns:

  • Business
Work bitch

Results from the latest Bureau for Economic Research (BER) Retail Survey reveal that retailer confidence declined sharply during the third quarter of 2009, falling from 47 to an eight-year low of 35 index points.

The downward adjustment in retailer sentiment comes after retailer confidence remained resilient around the 50 mark for six consecutive quarters, with the recorded readings only varying between 47 and 53 since the first quarter of 2008.

The BER's retailer confidence index depicts the percentage of respondents reporting that they are satisfied with prevailing business conditions.

Although the retail sector is not yet out of the woods, there are other indicators that also suggest that the worst (in terms of volume growth) may be behind us. For example, retailers made a significant upward revision to their expectations regarding sales volumes, with the majority of the BER's respondents expecting sales to improve during the fourth quarter.

BER economist Linette Ellis says that "there seems to be some light at the end of the tunnel in terms of sales volumes". She feels that while there may be a slow uptick in sales volumes during the fourth quarter, retail turnover will probably deteriorate further as selling prices remain under pressure.

  • Branko Brkic
    branko3048 a ray
    Branko Brkic

    Brkic is the founder and editor of The Daily Maverick.

    He has edited magazines on business and politics, technology, and wildlife. He has also published fiction and non-fiction books, most of them in Serbian. Though he has never pretended to be a reporter, his wide knowledge of politics (especially in America), combined with his experiences in a disintegrating Yugoslavia, gives him an unusual outlook on events in South Africa.

    Despite the vowel-poor surname, he tells anyone who asks that he hails from Hyde Park, Johannesburg, having spent most of his adult life in South Africa.

    Recent columns:

  • Business

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