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Fitch expects retail spending to strengthen

On the mend: Fitch researchers say local consumers are recovering from the COVID-19 knock and demand for electronics is on the rise 
PIC: PHATSIMO KAPENG
On the mend: Fitch researchers say local consumers are recovering from the COVID-19 knock and demand for electronics is on the rise PIC: PHATSIMO KAPENG

Researchers at credit rating agency, Fitch, have forecast a positive outlook for retail spending in the country, with consumers expected to steadily grow their purchases of consumer electronics such as mobile phones, laptops, and computers.

Fitch is forecasting an average annual growth rate of 13.2% in audio-visual, camera, and computer spending by local consumers over the 2022–2026 period. This will take spending from P2.2 billion this year, to P3.5 billion by 2026.

Similarly, household appliances will also experience strong medium-term growth, averaging 9.1 percent annually over the 2022–2026 period, according to the survey.


Editor's Comment
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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