Introduction
This report focuses on the flea, craft, art and food market sub-sector of Retail Trade via Stalls and Markets. Even though statistics indicate that this creative sector is a small contributor to the economy, it serves as an important incubator for small businesses and therefore contributes to job creation and economic growth. The latest available statistics for the sector as per the second draft of the Department of Arts and Culture’s (DAC) Revised White Paper on Arts, Culture and Heritage published in November 2016, indicate that the craft sector contributed R3.3bn to GDP in 2010 and employed more than 273,000 people. According to the DAC’s National Mapping Study conducted in 2014 there were approximately 27,685 organisations within the broader cultural industries sector in South Africa.
Strengths
• Business owners are resilient because they choose to express their creative innovation or they entered the sector out of financial necessity.
• Large market owners are creating opportunities for traders to develop into SMMEs.
• The government is focused on promoting the growth of SMMEs.
• There is a variety of established markets countrywide.
• Various funding mechanisms for SMMEs are in place.
Weaknesses
• An incoherent national strategy for the creative sector prohibits the promotion of South African CCI internationally.
• CCI are not a priority industry in government’s IPAP and there is a lack of support for entrepreneurial activity.
• Lack of institutional support for protection of intellectual property.
• Poor data collection and inaccurate statistics prevent the profiling of the sector which should guide policy and strategy formulation by government.
• The sector is informal and uncoordinated and the lack of organisation within the sector weakens structured engagement with government.
Opportunities
• Low barriers to entry.
• Markets provide an alternative to family entertainment when economic times are putting pressure on spending power.
• Online marketplaces are opening up global markets.
• Provincial and local governments are creating opportunities for SMMEs in the sector to grow their businesses by facilitating access to national and international exhibitions.
• Shoppers are showing a desire for more individual, unique products.
• Trade dialogue between South Africa and the EU.
Threats
• Asian imports offer a cheap alternative to shoppers.
• Exports are impacted by decreasing demand in major overseas markets as a result of difficult global economic conditions.
• Increase in crime.
• Increasing load-shedding and shortages of electricity.
• More difficult economic conditions which negatively affect household finances and the ability of potential buyers to spend money at markets.
• Weak economic performance of tourism and other sectors linked to this sector will spill over to craft markets.
Outlook
Faced with intensifying competition stakeholders believe that the CCI sub-sector needs to gain scale and operational leverage. The countrywide increase in the number of different types of stalls and markets catering for different income and cultural groups is expected to continue driven by new entrants who are trying to make ends meet while economic conditions are challenging. On the other hand consumers whose spending power is affected by rising inflation will continue to satisfy their social and retail needs at markets. Role players believe competition between markets and shopping centres and large retailers will intensify as all players are aiming to increase or at least maintain their top level sales.
The Retail Trade via Stalls and Markets Industry in South Africa
2017
Full Report
R 1 900.00(ZAR) estimated $98.79 (USD)*
Industry Landscape
R 1 330.00(ZAR) estimated $ 69.15 (USD)*
Table of Contents
[ Close ]| PAGE | ||
|---|---|---|
| 1. | INTRODUCTION | 1 |
| 2. | DESCRIPTION OF THE INDUSTRY | 1 |
| 2.1. | Industry Value Chain | 4 |
| 2.2. | Geographic Position | 5 |
| 3. | SIZE OF THE INDUSTRY | 6 |
| 4. | STATE OF THE INDUSTRY | 10 |
| 4.1. | Local | 10 |
| 4.1.1. | Corporate Actions | 13 |
| 4.1.2. | Regulations | 14 |
| 4.1.3. | Enterprise Development and Social Economic Development | 15 |
| 4.2. | Continental | 17 |
| 4.3. | International | 19 |
| 5. | INFLUENCING FACTORS | 20 |
| 5.1. | Economic Environment | 20 |
| 5.2. | Funding | 21 |
| 5.3. | Government Initiatives | 22 |
| 5.4. | Technology, Research and Development (R&D) and Innovation | 25 |
| 5.5. | Labour | 26 |
| 5.6. | Cyclicality | 27 |
| 5.7. | Crime and Security | 27 |
| 5.8. | Electricity Supply Constraints | 28 |
| 6. | COMPETITION | 28 |
| 6.1. | Barriers to Entry | 29 |
| 7. | SWOT ANALYSIS | 30 |
| 8. | OUTLOOK | 31 |
| 9. | INDUSTRY ASSOCIATIONS | 31 |
| 10. | REFERENCES | 31 |
| 10.1. | Publications | 31 |
| 10.2. | Websites | 32 |
| COMPANY PROFILES | 34 | |
| AUDACIA STELLENBOSCH MARKET (PTY) LTD | 34 | |
| B AND B MARKETS-HILLFOX (PTY) LTD | 35 | |
| EARTH FAIR MARKET (PTY) LTD | 37 | |
| FAMILY MARKET HOLDINGS (PTY) LTD | 38 | |
| HAZEL FOOD CC | 40 | |
| I HEART MARKET (PTY) LTD | 41 | |
| I LOVE MIDLANDS MARKET (PTY) LTD | 42 | |
| IRENE AT SMUTS (PTY) LTD | 43 | |
| KAMERSVOL GESKENKE CC | 44 | |
| MARKET ON MAIN CC | 46 | |
| NEIGHBOURGOODS MARKET (JOBURG) CC | 47 | |
| OUTENIQUA FARMERS MARKET CC | 49 | |
| PINESLOPES CRAFT MARKET CC | 51 | |
| PRETORIA BOEREMARK (PTY) LTD | 52 | |
| ROSEBANK SUNDAY MARKET (PTY) LTD | 53 | |
| SHONGWENI FARMERS MARKET CC | 54 | |
| SLOW MARKET GROUP (PTY) LTD | 55 | |
| STABLES LIFESTYLE MARKET (PTY) LTD | 56 | |
| TRADERS SQUARE INVESTMENT COMPANY (PTY) LTD (THE) | 57 | |
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