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South Africa:Xmas sales set for a 20-year high |
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2004-11-18
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While shoppers for the coming Christmas season will line up at shops, it ringing cheers for retailer much before the onset of the great festive season.
Survey conducted by Ernst & Young on the Festive Season Retail Trends where 500 retailers sampled, indicates consumers will flock to shopping malls to stock up on last minute gift items.
Such bullish projections are the findings of an annual Christmas sales overview conducted by the University of Stellenbosch’s Bureau of Economic Research (BER) on behalf of global audit and business advisory firm Ernst & Young.
According to feedback from 500 retailers sampled in the annual survey, total Christmas sales in 2004 are likely to be the best in two decades. The retailers surveyed covered all sectors and provinces.
Christmas sales in 2003 as per the survey, were lower compared to 2002, and this is confirmed by Stats SA whose results indicated that retail sales expanded by only 10,2% during the fourth quarter of 2003 compared to 13,4% during the fourth quarter of 2002.
(The fourth quarter average is taken to indicate Christmas sales, as Christmas sales usually start in October and reach a high point in December.) |
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