Recent research confirms that this will be South Africa's first "e-Christmas", with people shopping online for festive season gifts on a large scale. The prediction is that online retailers will have generated around R200 million by the time stores close for Christmas this year.

Even though higher interest rates (and it appears that the Governor of the Reserve Bank is in favour of another rate hike before Christmas) and the new credit Act will mean lower spending by consumers this festive season, retailers must be prepared to maximise sales.

In the wake of the latest interest rate hike, retailers will be bracing themselves for a further cutback in consumer spending as consumers reduce their borrowing levels.

This will put pressure on retailers to cut their operating costs and find ways of enhancing profitability. In such an environment, the use of technology will be crucial as they look to grow market share, improve customer service, and drive up productivity.

GROWTH in retail sales accelerated in August as consumers shrugged off higher borrowing costs and more stringent credit rules, leaving the door open for another interest rate hike.

Retail sales were 6,9% higher than the previous August's, above forecasts and quickening from an upwardly revised 5,2% in July, official figures showed yesterday.

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Online retail in South Africa has finally turned around with an expected total spend of R929-million for 2007.

By the end of this year, online spending on retail goods in South Africa is expected to have grown by more than 35%, after 33% growth in 2006.

The total spent on online retail goods in South Africa in 2007 is expected to be R929-million, up from R688-million in 2006, according to a new report from World Wide Worx, “Online Retail in South Africa 2007”.

Confidence in South Africa's retail sector dipped in the third quarter of 2007, on higher interest rates and a new credit law, but retailers remained largely upbeat, a new survey showed on Wednesday.

Soweto, the vast township that was synonymous with neglect and revolt during apartheid, will become home to the largest shopping mall in the southern hemisphere this week when one of South Africa's original black entrepreneur fulfils a three-decade long dream.

RETAIL sales fell 5,4% in June, curbed by the effect of tough new lending rules, but the news is unlikely to avert another interest rate hike when the Reserve Bank's monetary policy meeting ends today.

Today, people expect more than a basic over the counter ‘buy and sell’ retail experience.
In our technology-driven world, where a cell phone doubles as a video camera, home computer and music player, where we can pause and replay television programmes at the push of a button, there is no such thing as a passive consumer anymore. Instead people demand to be entertained, involved and informed every step of the way.