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Tapping into the unbanked While official retail figures indicated a slowdown in growth recently, there is a part of the economy that is flying under the radar, which could attribute to up to 40% of retail spend. This is the cash economy, or 'grey money' sector, that is created by people earning and trading in cash which never goes through formal systems such as a banks. Foshizi MD, Lebo Motshegoa says that in-depth research is vital in order to understand the needs of these consumers and tap into this lucrative cash market. In other news, DHL has released its report on augmented reality in logistics; CEO research reveals that supply chains are not optimal to meet omni-channel shopping demands; the reduced GDP may lead to a leaner meat industry; and Charles Mburugu gives online stores some tips for choosing the right products. And finally, do you trust your fridge?Shan Radcliffe, Group Head - Retail (@Biz_Retail)
Image: © Anke van Wyk - Fotolia.com
Comment online in our ed's column archive. Go mobile with apps and m.bizcommunity.com. Engage with us on Twitter, Facebook, LinkedIn and Google+. Subscribe to YouTube and via RSS. Send all your retail news and event invitations to retailnews@bizcommunity.com, exclusive opinion pieces to contributors-retail@bizcommunity.com and international news to internationalnews@bizcommunity.com. Read "How to contribute to Biz, from op-ed pieces to news". | Today's top stories |
Callie van der Merwe With too much newly printed money in circulation and our economic growth stunted and tethering on the verge of another recession, retailers in South Africa are certainly under immense pressure to deliver on annual targets and growth. Read more >> | 'Grey money' is a feature in all developing economies, especially as more people move from rural areas to urban centres in search of employment and a better way of life. Read more >> | Onyx Ventures, together with Shiro in South Africa, has collaborated with some of the leading property groups and mall owners to introduce a new app, 'crème' that could change the way shoppers connect and engage in a value-sharing relationship with their favourite malls, stores and brands. Read more >> |
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 | On the last Biz Takeouts Marketing and Media Radio show we chatted to John Sanei CEO of Future-Collective and Mandy Phiri from Times Media. [twitterfall] Read more >>
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 | Nick Hedley Recently listed township mall owner Safari Investments (SAR) expects additions to its portfolio to more than double its asset base to R3bn within three or four years. Read more >>
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 | The Eastern Cape Development Corporation (ECDC) is leading a provincial delegation, which includes the Nelson Mandela Bay Business Chamber, to kick-start what has been declared the 'South African year' in China. Read more >>
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 | Morne Cronje The South African environment has been conducive in attracting both local and global franchise brands. As a developing economy, South Africa has harnessed the power of emerging technologies to foster economic growth, which ultimately has helped it remain competitive in today's world. Read more >>
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 | Issued by Aperio There is a rebirth of more profitable and sustainable independent outlets in South Africa, however brands are making the mistake of treating them as small and classifying them incorrectly by number of outlets as per their old "township" or Main Market strategy. Read more >>
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 | Though the thought of your fridge being hacked for anything more than a midnight snack seems bizarre, the growing trend of manufacturing appliances with internet connectivity means that consumers are at risk of a new kind of cyber attack. Read more >>
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 | The price of petrol will increase from Wednesday, the Department of Energy has announced. Read more >>
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|  | SAN FRANCISCO, USA: Google is working on a low-cost smartphone aimed at emerging markets as part of an initiative called Android One. Read more >>
|  | WARWICK, USA: At Little Bohemia Creek Farm, a tractor pretty much drives itself, weaving through rows of corn using GPS technology as it injects carefully dosed amounts of fertiliser into the lands. Read more >>
|  | WASHINGTON, USA: A study detailing how Facebook secretly manipulated the news feeds of about 700,000 users to study "emotional contagion" has prompted anger among social media users. Read more >>
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|  | Thabo Mokone New Communications Minister Faith Muthambi wants to strip parliament of the power to fire disruptive members of the SABC board and have that authority given to her. Read more >>
|  | The North West is expected to establish a higher level forensic and fraud investigations unit to give teeth to the provincial government's efforts to eliminate corruption. Read more >>
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More Government news
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| Hout Bay, Cape: Junior financial analyst required for leading pet nutrition brand. Read more >>Markham, one of South Africa's leading menswear retailers is looking for a talented, fashionable, youthful, energetic, confident, and fun individual to apply as a regional visual manager. Read more >>
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| Rural ExpoLavaniye - 24 Jul 2014 to 25 Jul 2014 Butterworth |
| STOKVELEX 2014 - 3 Jul 2014 to 6 Jul 2014 PretoriaThe STOKVELEX 2014 is a Premiere show targeting Stokvels, cooperatives and individuals around the Gauteng region. Read more >> | |
| Bobby Unser "Success is where preparation and opportunity meet." |
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