South Africans Still Choosing Shopping Centres Over Shopping Online
Now that we’re recovering from post-Black Friday hype, it’s good to take stock and remind ourselves that South Africans still love their shopping malls. Only 4% of South Africans shop regularly online. Though more shoppers will be tempted by online Black Friday offers, South African retail remains strongly bricks and mortar-focused.
As the article notes, “Shopping malls are the preferred destination for South Africans, particular in urban areas, with almost 2000 malls nationally, according to the Council of Shopping Centre’s 2015 estimates…. malls accounted for around roughly half of South African grocery sales.”
Polokwane is a particularly interesting opportunity for an investor looking for a retail opportunity. A bustling regional hub in its own right, Polokwane is a hive of activity over weekends and during school holidays as economically active people travel back from their jobs in Johannesburg and Pretoria.
The Polokwane CBD-based shopping mall https://commercialexchange.co.za/property/shopping-mall/
we have on offer amongst our properties for sale is especially well-positioned to benefit from this pattern, thanks to its tenant mix and close proximity to a taxi rank. With stores such as Shoprite and Ackerman’s, this centre offers retailers that are relevant to local residents, and which are poised to benefit as shoppers tighten their belts. At the same time, the quality construction and pleasant, treed courtyards offer the kind of more upmarket, experiential shopping experience that even lower end shoppers are seeking. We expect this shopping mall to be very busy over December, as workers return home – and bring their big city shopping habits with them.
For property investors, retail remains the way of the future, and now is a perfect time to put this on your shopping list..