The rand is battered and bruised and customers are surely feeling the pinch. Let’s not even speak of the hike after hike in the petrol price and the country being in a technical recession after two quarters worth of negative growth. Although there were very few positives from the medium term budget speech, the good news is that tax remains largely unchanged.
Local retailers are gearing up for one of the year’s busiest weekends as Black Friday sales lure shoppers with unmissable discounts. This year’s Black Friday, however, is unlikely to change weak retail trade sales growth, which moderated to a lacklustre 0.7% year-on-year in September, from 2.5% in August, affirming the economy’s muted consumption demand.