Over the past few months the US has begun to present sizable evidence of the decreasing growth rate of the retail sector in the form of several retailer closures. According to the business insider a large percentage of the major retailers including Macy’s, Kohl’s, Walmart, and Sears, have shut down hundreds of their stores to mitigate losses as a result of poor performing stores and the crippling effect that e-commerce has had on brick and mortar.
Over 52% of the South African population fall between LSM 4-6. This segment of the market is in a constant state of flux – moving between formal and informal retail spaces to search out the best fulfillment method for their needs – value, experience, convenience, trust and connection.
In a historic referendum on Thursday June 23, the people of Britain voted in favour of a British exit from the European Union. The global economy has received the decision with great trepidation, succeeding existing concerns around muted economic growth forecast for 2016. With this unexpected turn of events it is key for retailers and Consumer goods companies to anticipate and plan for what impact Brexit may have on the consumer and the retail industry as a result