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TREND.Facts: Feb 20

TRENDAFRiCA February 20, 2013

The average time spent in store is 23 minutes, longer online (in Europe), so the longer someone spends in store, the more they spend. Shopper marketing has become a precise science and South Africa is following on international trends where it is the fastest growing advertising channel. SA shopping centre sales make up between 62%-76% of total retail sales, with R400 billion in total mall retail sales in 2011. In fact, the retail sector is within the top three biggest contributors to the South African economy after manufacturing and mining, according to Stats SA, with SA retail sales contributing R64.4 billion to total SA VAT revenues in 2009. SA’s formal retail stock is estimated at approximately 37 million m2, and is worth approximately R524 billion.

 

Source: TREND.Dissect: ‘The Third Place’

 

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