Trade in SA’s major shopping centres started to moderate during Q1 2023. Year-on-year growth in monthly trading density decelerated to 4.8% in January 2023 before increasing slightly to 5.8% in March 2023. This followed a particularly strong festive trading period as December 2022 was 13.5% up on December 2021.
The slowing mall retail sales came against a background of heightened load shedding, high unemployment, and increasing interest rates as SARB aims to curb rising inflation. The deceleration in monthly sales resulted in annualised trading density growth slowing to 10.7%.
For more detailed information on the SAPOA Q1 2023 Retail Trends Report, download a free copy of the latest report here (free to SAPOA members only).
How to access SAPOA’s reports:
- Visit www.sapoa.org.za.
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- Click on ‘Reports’
- Click on ‘Free Reports’
- Click on ‘SA Property Trends Report’
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