SA liquor stores make the most money among independent retailers, followed by shoe stores
- Liquor stores in South Africa have the highest turnover of independently operated stores, a new report by Vend showed.
- Liquor stores were followed by shoe, sporting goods and home furnishing stores.
- The report noted that when compared to other regions, South African stores have the lowest average monthly revenue.
- For more stories, go to Business Insider SA.
South African liquor stores have the highest turnover in the country, a new report by retail software platform Vend found.
The Retail Benchmarks Report for independently operated stores found that South African liquor stores have an average monthly revenue of R506,251, followed by shoe stores with R325,015.
The report showed that sporting goods stores have an average monthly revenue of R313,531, and home furnishing stores with R206,476.
The report was compiled from Vend’s retail data in South Africa, as well as other countries across the world.
It showed that South Africa’s fashion and accessory retail industry delivered the best growth the past year, with average monthly revenues per store increasing by 13%.
Stores that showed the lowest average monthly turnover in South Africa included cosmetics, beauty supplies, and perfume stores, the report noted.
Globally, independent retailers had a monthly average revenue of $28,094 (roughly R397,000), with North American retailers generating the most revenue of $31,038.52 (roughly R439,000).
North America was followed by Australian retailers who earned an average of $29,081.51 (roughly R411,000) per month, New Zealand with $28,527.71 (roughly R403,000), and the United Kingdom with $28,066.89 (roughly R396,000).
South African retailers showed the smallest average monthly revenue of $18,785.98 (roughly R265,000).
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