Media Coverage
General dealers have emerged as the most resilient sector in South African retail, growing sales 14.6% in real terms from January to May 2022 and winning a greater share of the cash-strapped consumer's wallet. Their strong performance in a struggling retail sector can be largely attributed to consumers' spending more of their incomes on necessities and choosing entry-level and in-house brands over premium brands.
With the South African retail market estimated to be worth R1 trillion a year, there is plenty of pie for the retail merchants who are agile, fast, bold and innovative enough to create opportunities that can boost profit margins.
Yet that doesn’t mean that it will be easy to win in the second half of the year, even with a welcome end to
most remaining COVID restrictions, says Steven Heilbron, CEO of Capital Connect, part of the Connect Group.
South Africa’s retailers have only a handful of months to prepare for the next peak trading season which includes the busy shopping time over Black Friday and the festive season.
The country’s retail market is estimated to be worth R1 trillion a year, allowing a slice of the pie for any retail merchant who is agile, fast, bold, and innovative enough to create opportunities that can boost profit margins.
South Africa's economy remains cash driven to a large extent. With approximately R168 billion circulating on the country's streets at any given time, according to the South African Reserve Bank, cash remains the preferred method of payment and transacting
In South Africa, retail business owners operate in a fast paced, dynamic and highly competitive market.
Father's Day is less of an event tham Mother's Day, but it still presents ample opportunity for turnover boost, especially for retailers that are willing to offer options beyond socks, biltong gift packs, braai accessories and golf equipment.
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Published on Moneyweb - 2 November 2021
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JSE- and Nasdaq-listed Net1 UEPS Technologies has agreed to buy South African fintech company Connect Group for R3.7 billion in a blockbuster deal that it has described as “transformational” for its business.
In a statement, Net1 described Connect Group as a “profitable, high-growth and leading South African fintech” and said the acquisition will help it to become “South Africa’s leading fintech platform”.
Heritage Day and a long weekend is just about here, bringing with it, exciting trading opportunities for retailers. As always, managing cash will be a priority, given that it remains a cost-effective trading tool and the preferred payment method for many consumers, says Mark Templemore-Walters, operations director at Cash Connect, South Africa’s leading provider of automated cash management and payment solutions for retailers.
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The recent riots and looting in Gauteng and KwaZulu-Natal highlight just how vulnerable our retail sector is to crime. At Cash Connect, we are aware that criminals are constantly finding new ways to get their hands on valuable goods and cash.
Mark Templemore-Walters, operations director at Cash Connect, says that managing cash is a core part of a retail business. Cash is a cost-effective trading tool and the preferred payment method for many consumers, with 50 per cent of transactions in South Africa done in cash. In fact, the impact of cash crime on the SA economy is 5 times less than digital and card fraud. In a country with about 11 million unbanked citizens, cash payments enable financial inclusion.
CAPITAL Connect, a member of the Connect Group, has won the Retail Business Funder of the Year title in the 2021 Wealth & Finance FinTech Awards. This title was awarded to Capital Connect in recognition of the innovative business finance solutions it provides to the South African retail sector since its launch in 2018.