Four Trends Shaping Shopping in 2024: Are retailers ready?
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GUEST - Laurian Venter, Sales Director at OneDayOnly.co.za
In the last quarter of 2023, South Africa’s consumer confidence dipped to the lowest in two decades. This, coupled with consecutive quarterly decreases in household final consumption expenditure (HFCE), may see 2024 starting off on a sour note. With this in mind, retailers must pay attention to these trends which will impact shopper behaviour in the new year. Laurian Venter, Sales Director at OneDayOnly.co.za, South Africa’s original daily deals site explains that following consistent declines in retail trade sales over the bulk of 2023, retailers must adapt their operations in line with today’s purchasing patterns if they are to avoid a similar fate in 2024. “With South Africans feeling more financially stressed last year, the way we shop has changed. And, with further economic uncertainty expected in the coming year, it will continue changing. But if retailers don’t change too, they will be left behind by consumers who choose to spend their money with those that do.”
In the last quarter of 2023, South Africa’s consumer confidence dipped to the lowest in two decades. This, coupled with consecutive quarterly decreases in household final consumption expenditure (HFCE), may see 2024 starting off on a sour note. With this in mind, retailers must pay attention to these trends which will impact shopper behaviour in the new year. Laurian Venter, Sales Director at OneDayOnly.co.za, South Africa’s original daily deals site explains that following consistent declines in retail trade sales over the bulk of 2023, retailers must adapt their operations in line with today’s purchasing patterns if they are to avoid a similar fate in 2024. “With South Africans feeling more financially stressed last year, the way we shop has changed. And, with further economic uncertainty expected in the coming year, it will continue changing. But if retailers don’t change too, they will be left behind by consumers who choose to spend their money with those that do.”
