Retail sector not shaken by economic gloom - by Desie Heita
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WINDHOEK - Somehow, the much talked about economic recession, coupled with significant job losses in the mining sector, does not deter consumers from splashing some of their monthly salaries on booze, clothes, and shoes.
According to a maiden survey, some 20 shops reveal a happy face among retailers, with the only concern being theft but not the shortage of paying customers.
The only retailers with no smiles on their faces are automobile and stationery retailers, who indicated that they have experienced decreased business performance.
The survey, by the leading stock brokerage firm IJG and local think tank Institute for Public Policy Research (IPPR), interviewed 20 retail shops in Windhoek.
Among the shops interviewed were Model Pick 'n Pay, Tre Supermarket, Truworths, and Louis Botha Bottle Store.
The survey asked respondents to rate the general business conditions over the period between April and June, their expectations, the challenges they face, as well as their financial performance.
A sizeable 55 percent of the respondents, mainly food and beverage retailers, are optimistic about the future, mainly due to the forecast increase in prices of basic goods expected with seasonal inflation adjustments of mainly food items.
"None of the respondents expected lower revenue in the third quarter than in the second quarter of the year,"¯ said Leon Kufa, IPPR research associate, in presenting the survey results.
When asked to rate the general business conditions between April and June, 40 percent of the retailers indicated that the three months in question "were favourable"¯ while the other 40 percent said they have not noted any change in business.
It also seems, from the responses, that there were no job losses experienced in the retail sector - or at least within the Windhoek-based retail sector.
Most of the retailers' challenges range from the threat of inflation, crime and the uncertainty of the local economy.
Clothing, food and beverage retailers complained of theft of stock and attributed this to difficult economic times and the large number of customers who frequent their shops.
The hope is to have this survey conducted every quarter, building it up into a retailer index.
Kufa says outside towns will in future be included in the survey for a broader picture.
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According to a maiden survey, some 20 shops reveal a happy face among retailers, with the only concern being theft but not the shortage of paying customers.
The only retailers with no smiles on their faces are automobile and stationery retailers, who indicated that they have experienced decreased business performance.
The survey, by the leading stock brokerage firm IJG and local think tank Institute for Public Policy Research (IPPR), interviewed 20 retail shops in Windhoek.
Among the shops interviewed were Model Pick 'n Pay, Tre Supermarket, Truworths, and Louis Botha Bottle Store.
The survey asked respondents to rate the general business conditions over the period between April and June, their expectations, the challenges they face, as well as their financial performance.
A sizeable 55 percent of the respondents, mainly food and beverage retailers, are optimistic about the future, mainly due to the forecast increase in prices of basic goods expected with seasonal inflation adjustments of mainly food items.
"None of the respondents expected lower revenue in the third quarter than in the second quarter of the year,"¯ said Leon Kufa, IPPR research associate, in presenting the survey results.
When asked to rate the general business conditions between April and June, 40 percent of the retailers indicated that the three months in question "were favourable"¯ while the other 40 percent said they have not noted any change in business.
It also seems, from the responses, that there were no job losses experienced in the retail sector - or at least within the Windhoek-based retail sector.
Most of the retailers' challenges range from the threat of inflation, crime and the uncertainty of the local economy.
Clothing, food and beverage retailers complained of theft of stock and attributed this to difficult economic times and the large number of customers who frequent their shops.
The hope is to have this survey conducted every quarter, building it up into a retailer index.
Kufa says outside towns will in future be included in the survey for a broader picture.
Back to Top
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