Despite the difficult economic and social environment, the longer-term trend in trading densities (sales per square metre) in more than 100 shopping centres in South Africa and Namibia shows a clear improvement since the 2020/21 Covid-induced performance downturn.
Looking at this revival, current times can be compared to a renaissance in many ways.
The Renaissance was a time of intense cultural, artistic, economic, and political rebirth and innovation. It is also a time to honor humanity and life.
Today, we note that Covid-19 has accelerated many trends, caused people to rethink their lives, world, and values, and has inspired extensive innovative thought.
We must understand key contemporary global consumer influences as we navigate turbulence to profitability in our modern renaissance. What
People wish to rediscover their love for life.
A desire for a life affair necessitates a holistic approach that encompasses body, mind, and spirit. This includes wellness, diet, exercise, home and pets, self-improvement, mindfulness, kindness, and sensitivity.
Underpinning this is a desire to work smarter and allow more time for life experiences as a result of a hybrid work model and a potential four-day work week in the UK and Europe.
Gone are the days of padded, slow-moving corporate existence. The new method eliminates unnecessary work steps, streamlines, and gets straight to the point, thereby shortening work and extending life.
The relaxation of lockdowns and restrictive measures has resulted in the emergence of’revenge travel,’ an indulgent splurging vacation full of luxuries and experiences.
The new cultural attitude is one of dignity.
Diversity, inclusivity, fluidity, neutrality, tolerance, and equality have paved the way for a larger cultural shift that values dignity. This is built on the foundations of acceptance and belonging. Black Lives Matter, LGBTQ2S+, Women’s Rights, and abortion ruling protests all highlight this changing social value, which is mirrored in SA.
Consider Sofia Jirau, the first model with Down syndrome to appear in a Victoria’s Secret campaign, Lebohang Monyatsi, South Africa’s first wheelchair model, and Precious Lee, a plus-size model who became the new face of Versace.
Men’s make-up is becoming more popular, as evidenced by the War Paint brand’s success in the United Kingdom and the United States. A dignified attitude must be reflected as a key value in
The Respect Economy establishes a new framework for living.
The stark recognition of the environmental impact of daily life has resulted in a new value system based on ethics, thoughtfulness, and innovation. Responding to climate change, emissions, animal rights, and managing the protein supply chain are all critical.
The global and South African retail industries are responding in a variety of ways.
Pioneering internationally competitive South African biotech start-ups are attracting a lot of attention and funding.
Mzansi Meat Co. is bringing cultivated meat to Africa, reimagining food systems by growing affordable, sustainable, and healthy meat from cells with no animal cruelty. Plato’s makes crisps from recycled beer grains, and Inseco turns low-value organic byproducts into nutritious insect ingredients.