Trade in South Africa’s major shopping centres further moderated during Q2 2023, according to SAPOA’s latest Retail Trends Report.
Year-on-year growth in monthly trading density decelerated to 3.3% in April 2023 before increasing to 6.9% in May and 6.4% in June, following a strong festive trading period in December 2022 of 14.2%.
The deceleration in mall retail sales came against a background of continued low economic growth, high unemployment, and increasing interest rates, according to the MSCI South Africa Quarterly Retail Trading Density Index which is based on data collected from 112 retail centres covering more than 5.2 million square metres.
The index’s trading density ended the quarter at an annualised R39.5k per square metre – well clear of its pre-pandemic marker of R35k per square metre.
For more detailed information on the SAPOA Q2 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.
- Login/register on SAPOA Members
- Click on ‘Reports’
- Click on ‘Free Reports’
- Click on ‘SA Property Trends Report’
Not a SAPOA member? Sign up here