Retail Trade Sales Lies, damned lies, and retail trade sales
In all the excitement of the past couple weeks, we’d forgotten that September’s retail sales numbers were barrelling towards us like an out of control truck belonging to a maverick independent cash ‘n carry group, down one of those seemingly endless hills in the Eastern Cape…. where were we? Ah yes. Overall, the bearded sages over at StatsSA inform us, they were up just +0.2%, the lion’s share of that coming from “retailers in textiles, clothing, footwear and (ahem) leather goods”, who grew by +3%. There has been a pretty steady decline overall since May’s high of around +2.4%. Our own great industry, under the sobriquet “food, beverages and tobacco in specialised stores” saw sales diminish by -2.3%, while “pharmaceuticals and medical goods, cosmetics and toiletries” grew +0.8%, and “general dealers” shrank -0.7%.
Comment: Not the result we were hoping for then. But Black Friday is coming, we’re told, so that should give us a little bump and keep the wolves from the door.