South Africa has traditionally had the largest retail market in Sub-Saharan Africa but has recently been eclipsed by Nigeria (which has also become the largest economy on the continent following the rebasing of its GDP in April 2014).
The spending patterns of South African consumers have clearly shifted in recent years, owing to the emergence of a black middle class, high rates of urbanisation and the proliferation of store cards offering credit.
Retail sales shrank by an estimated 2.3% in volume terms in 2013, a reflection of slowing economic growth, strong inflation (averaging 5.8%), concerns about job security and the impact of a series of strikes, which hit household income. They are likely to shrink by a further 0.4% in 2014.
Spending on food, beverages and tobacco already accounts for more than one-quarter of household expenditure, and is likely to remain around this level over the forecast period (2014-18).
Eating out will remain a rapidly growing sector in the food and services industry, but local operators are also likely to look to expand into fast-growth markets in the rest of Africa.

Consumer goods and retail report 2

Overview 2

Retail 3

Food and drink 5

Non-food products 9

Industry publishing schedule 14

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