People in Joburg shop more, but spend less than in Cape Town, a new report into independent stores found
- A new report found that Johannesburg independently operated stores recorded more transactions than in Cape Town.
- Cape Town stores, however, saw higher values for transactions than Johannesburg.
- South Africa retailers had the smallest profit margins worldwide, according to the study.
- For more stories, go to Business Insider SA.
Johannesburg stores see more transactions a month than in Cape Town, but average transaction values in Cape Town were higher, a new report into independent retailers by retail software platform Vend found.
The Retail Benchmarks Report for independently operated stores found that Johannesburg stores recorded an average of 470 transactions a month, while Cape Town stores saw an average of 374 transactions.
In Cape Town, the average of a transaction was, however, R547 compared to R366 in Johannesburg.
Profits margins in Cape Town (47%) were also higher than in Johannesburg (43%), the report noted.
The report was compiled from Vend’s retail data from 13,000 independently operated stores in North America, the United Kingdom, Australia, New Zealand and South Africa. Some 400 stores took part in the South African survey.
Globally, it found that retailers that sold consumable goods, food and beverages and vape shops had the highest number of transactions, while retailers that sold high-ticket items such as furniture, jewellery and shoes saw the least number of transactions.
North American retailers recorded the highest profit margins of 53.46%, followed by Australia with 52.43%, New Zealand with 52.92% and the UK 52.48%
South African saw the lowest average profit margins of 46.16%.
The average transactions recorded per month were the highest in the UK with 793, followed by New Zealand with 737, North America with 648 and Australia 607.
South African stores again recorded the least number of transactions with an average of 625.
The report found that retailers in North America and South Africa reported the highest number of customers, with an average customer count of 808.82 and 800.08 respectively.
The UK saw the least with 458 average reported customers, followed by Australia with 565.
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