DStv Channel 403 Sunday, 24 November 2024

November retail sales volumes drop despite Black Friday

JOHANNESBURG - Last year's Black Friday sales failed to impress.

The annual mega sale took place before payday for many consumers.

This is reflected in November retail sales results, which continued its downward trend.

READ: SA consumers spent more than R80m on Black Friday

The data shows a subdued consumer market, with cost-of-living pressures weighing on discretionary income.

On a month to month basis, there was a marginal rebound of 0.4 percent in October.

But demand for clothing, footwear, hardware and food declined on a year-on-year basis.

FNB Economist, Siphamandla Mkhwanazi says significant fuel price drops was not enough to bolster spending.

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