Retail sales volumes lifted marginally, supported by Black Friday sales Following two consecutive months of volumes decline, retail sales increased marginally by 0.4% y/y in November, assisted by Black Friday shopping activity. However, the Black Friday boost appears relatively muted in 2022 compared to November 2018 and November 2019, when growth averaged 2.9% y/y, respectively. On a month-on-month basis, seasonally adjusted volumes edged up by 1.1% from a 0.3% increase in October and September, respectively. Nevertheless, total volumes in the last three months of data (September to November) are still lower by 0.1% compared to the preceding three months (June to August). This reflects the waning resilience by households against a slew of consumer headwinds including rising interest rates, a higher cost of living, as well as more intense bouts of load-shedding.
In the intermediate series we will cover the following topics
Physical address
4 Merchant Place Corner Fredman Drive and Rivonia Road Sandton 2196
Postal address
PO Box 650149 Benmore 2010
