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Retail By Country

South Africa

COUNTRY RANK #46

South Africa

South Africa is made up of 9 provinces, i.e. Gauteng, KwaZulu-Natal, Eastern Cape, Western Cape, Northern Cape, Limpopo, Mpumalanga, Free State and the North West. Major cities within the country include the likes of Johannesburg, Cape Town, Durban, Port Elizabeth, Bloemfontein and Pretoria.

A mid-year population estimate for 2016, released by Statistics South Africa, indicates that the country has a population of approximately 55.91 million people of which the largest percentage reside within Gauteng (24.1%). Approximately 61.9% of the country’s population are between 15 - 59 years old, 30.1% are between 0 - 14 years old and 8% are above the age of 60. The estimated population growth rate between 2015 and 2016 was 1.62% with the average life expectancy at birth being 59.7 years old for males and 65.1 for females. Additionally, the average unemployment rate in South African was recorded as being 26.5% as at Q4 2016.

South Africa is governed by a democratically elected parliament. The first multi-racial elections took place in 1994; this officially ended the apartheid era and marked the beginning of the ANC-led government; major opposition parties include the likes of the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF). South Africa’s Parliament consists of two houses, the National Assembly and the National Council of Provinces, each with its own distinct role and functions.

Estimates indicated that real annual GDP for the country increased by 0.3% in 2016, mostly due to increased activity in the tertiary sector. The economic sectors which contributed the most to increased economic activity in 2016 include the likes of finance, real estate and business services, general government services and the wholesale, retail and motor trade; catering and accommodation industry.

 As at Q4: 2016 the South Africa’s real GDP fell by 0.3% following an increase of 0.4% in Q3:2016. The main contributors to the decline in Q4 were mining and quarrying which decreased by 11.5% (contributing -0.9% points to GDP) and manufacturing which declined by 3.1% (contributing -0.4% points to GDP growth). Sectors which experienced an increased growth include trade, catering and accommodations (2.1%) and finance, real estate and business services (1.6%), each contributing 0.3% points to GDP growth and transport, storage and communication (2.6%) which contributed 0.2% points to GDP growth.  

Roughly 1,941 formal shopping centres, measuring approximately 24 million m², make up the majority of the retail sector within South Africa, with other retail types including informal retail trade adding to the market. Ongoing interest from international retailers in large regional centres is still evident with a number of new retailers entering the South African retail market over recent years i.e. Starbucks, Krispy Kreme, Hamleys, Zara Home, Michael Kors, Under Armour, PAUL etc.

Our Top Tip For
New Arrivals

South Africa, the Rainbow Nation, is a country of various cultures, traditions and diverse ecosystems. From prime, modern shopping centres to shanty towns with informal retail in the form of spaza shops. The country has successfully hosted a variety of international sporting events and business summits, showing the nation’s commitment to succeed as a nation and leader in the African continent. New arrivals in Gauteng can make use of the Gautrain and associated bus services while public transport in Cape Town and Johannesburg has been significantly improved by the addition of the bus rapid transport systems. Watch out for mini bus taxis on the roads.

Currency

South African Rand (ZAR)
EUR €0.07
USD $0.08
GBP £0.06

Language

English
Hello: Hello
Thank you: Thank you

International Dialing Code

+27

Time Zone

GMT +2 hours

Cost of a Pair of Jeans

1,000.00 ZAR

Cost of a Cup of Coffee

27.00 ZAR

Cities in South Africa

Contact Us

Lizelle Cloete
61 Katherine Street
Sandton, 2196
+27 83 274 8498 | lcloete@broll.com