President Jacob Zuma’s rand-reducing reshuffles of the country’s finance minister, smack bang in the middle of the Christmas shopping bonanza, did little to dampen the annual zeal to spend, according to retailers.
The region’s biggest shopping malls reported increases in foot traffic and turnover in December and said consumers spent lavishly over the holidays.
Vincent Park general manager Joseph Parsley said turnover had gone up by 8%, an increase which he described as “quite remarkable”. He said national chains like Woolworths, Game, Clicks and Pick n Pay were responsible for much of this increase in spend.
“Our restaurants also had an exceptionally good run in December.”
Foot traffic in the mall rose by 2% from the period in 2014 and neared the 900000 visitor mark.
While this was below centre management’s anticipated one million shoppers, vehicle traffic shot up by 15%, with just under 240000 cars crossing the entrance booms.
Parsley said shoppers “splashed out” despite the drop in the rand’s value which would have a “lag effect” and only be felt later. “We are very happy as landlords but many will now have to service their debt and the spend will be affected as people do this.
“People buy because it’s the festive season and then sit with remorse in the first quarter . In December retailers need to double what they would do on average because it gives them the fat for the first quarter when trade slows up.”
At Hemingways Mall, foot traffic remained “more or less” the same as the previous year, according to marketing manager Estee Roos, although turnover was “definitely up”.“Our records show that the average shopper spent both more time in the centre and more money at the till points.”
Roos said restaurants and entertainment venues were well supported, meaning that shoppers had disposable income with which to “spoil” themselves, while fashion, groceries and home décor tenants reported an increase in turnover.
General manager of Mdantsane City Shopping Dean Deary announced an increase in both sales and the number of visitors.
“Despite difficult economic conditions, our December figures indicate that spend and foot traffic increased by 1% and 2% respectively compared to the same period last year.”
He said a 3% year-on-year turnover growth showed that shoppers “still splurged” on Christmas gifts.
Tills were also busy at BT Ngebs City in Mthatha where general manager Lolo Sabisa said shoppers went “all out” in December.
December shopping spree boosts region’s malls
The region’s biggest shopping malls reported increases in foot traffic and turnover in December and said consumers spent lavishly over the holidays.
Vincent Park general manager Joseph Parsley said turnover had gone up by 8%, an increase which he described as “quite remarkable”. He said national chains like Woolworths, Game, Clicks and Pick n Pay were responsible for much of this increase in spend.
“Our restaurants also had an exceptionally good run in December.”
Foot traffic in the mall rose by 2% from the period in 2014 and neared the 900000 visitor mark.
While this was below centre management’s anticipated one million shoppers, vehicle traffic shot up by 15%, with just under 240000 cars crossing the entrance booms.
Parsley said shoppers “splashed out” despite the drop in the rand’s value which would have a “lag effect” and only be felt later. “We are very happy as landlords but many will now have to service their debt and the spend will be affected as people do this.
“People buy because it’s the festive season and then sit with remorse in the first quarter . In December retailers need to double what they would do on average because it gives them the fat for the first quarter when trade slows up.”
At Hemingways Mall, foot traffic remained “more or less” the same as the previous year, according to marketing manager Estee Roos, although turnover was “definitely up”.“Our records show that the average shopper spent both more time in the centre and more money at the till points.”
Roos said restaurants and entertainment venues were well supported, meaning that shoppers had disposable income with which to “spoil” themselves, while fashion, groceries and home décor tenants reported an increase in turnover.
General manager of Mdantsane City Shopping Dean Deary announced an increase in both sales and the number of visitors.
“Despite difficult economic conditions, our December figures indicate that spend and foot traffic increased by 1% and 2% respectively compared to the same period last year.”
He said a 3% year-on-year turnover growth showed that shoppers “still splurged” on Christmas gifts.
Tills were also busy at BT Ngebs City in Mthatha where general manager Lolo Sabisa said shoppers went “all out” in December.
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending Now
Latest Videos