Survey shows SA has the sixth most shopping centre space in the world

shoppingcentre

A study by MSCI on behalf of the South African Council of Shopping Centres (SACSC) shows that the current size of the South African retail market is estimated at around 23.4 million square metres of gross lettable area (GLA) across 1 959 individual shopping centres – ranking it in 8th position among the 43 countries forming part of the survey – just behind Australia and France. The top three countries in terms of shopping centre supply – the US, China & Canada – contribute a combined 77% to the overall figure.

 

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The future of shopping centres in the spotlight

franchise-shoppingcentres

Whilst a survey in 2017 by Visa showed that South African consumers still prefer doing their shopping in malls, and a recent study by MSCI on behalf of the South African Council of Shopping Centres (SACSC) shows South Africa as having the sixth most shopping centre space in the world, FASA’s Franchise survey does show a decrease in the number of outlets in shopping centres and malls.

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Survey Shows SA Entrepreneurs are struggling

stressed-entrepreneur

Although FASA’s recent survey, sponsored by Sanlam, shows that entrepreneurs with new franchise concepts grew from 843 to 865 and opening 3 181 outlets in the past year, the entrepreneurial environment has become more difficult.

Seed Academy undertook the study of more than 1,000 entrepreneurs and found that the key challenges they faced included the inability to raise funds, finding customers, wearing too many hats followed by lack of guidance, slow sales, customers paying late and the unpredictability of business conditions across the country.

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