Retail

South Africa’s retail sector is marked by a mixed system featuring elements of both traditional and modern retailing. In recent years rising retail spending has been driven by a growing middle class and increased access to finance. According to data from Statistics South Africa, retail was the fastest-growing segment of GDP in the third quarter of 2011, and added 48,000 jobs in the fourth quarter of the year. The most important development in the sector in 2011 was the announcement of the Walmart-Massmart merger in February 2012. South Africa has long positioned itself as an ideal operating base for firms interested in regional expansion and South African retailers are making a mark in other countries, placing them at the vanguard of pan-African retailing. This chapter contains an interview with Ian Moir, CEO, Woolworths.