RETAIL STORES IN CBD START RESPONDING TO CONSUMER DEMAND, TAKE ADVANTAGE OF ‘CAPTIVE MARKET’.

Posted On Tuesday, 18 February 2003 10:01 Published by
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Strong demand for clothing, restaurants and groceries from consumers being met.
Cape Town, 12 February 2003] Retail in the Cape Town CBD is on a steady upward curve. In November 2000, close to 200 retail shops were vacant in the central city. Today, there are only about 67 shops vacant, a decrease in vacancies of 66.5%.

 

This bears out the fact that retailers are starting to respond to demand and to purchasing tendencies in the heart of Cape Town. Retail research undertaken by Market Decisions in 2001 and 2002 indicated that purchasing tendencies had increased in the CBD. Grocery purchases increased from 44% to 50% of respondents, and clothing from 50% to 60%.

 

Demand had also risen sharply, with respondents asking for more supermarkets (28% in 2001 vs 40% in 2002), more clothing stores (18% in 2001 vs 33% in 2002), more furniture and furnishings (3% in 2001 vs 17% in 2002) and restaurants (10% in 2001 vs 30% in 2002).

 

Significantly, 65% of all CBD workers now conduct their personal banking in the central city, up from 52% in 2001. A number of new branches of the major banks have opened since 2000, which is a contributing factor.

 

Partnership CEO Michael Farr said: “An improved environment for retail trade was the first thing we delivered through significantly increasing both security and cleansing through the City Improvement District. Secondly, we have been steadily raising awareness about the retail offering in the central city through a number of marketing initiatives being funded by ratepayers through the CID and through the recently launched CBD Retailers’ Association. This combination has meant that those already working in the central city are starting to rediscover what’s on offer in South Africa’s most attractive “shopping centre“.

In a broader context, if one considers the environment and our location, I believe we could lay claim to being one of the world’s most attractive “shopping centres”.

 

“Another significant success has been letting both existing and new retailers understand the market that is available in the central city. According to the survey, a full 75% of all people in the central city are in income groups with significant disposable income to spend on retail. This clearly has a large impact on employment and job creation in the central city.

 

“If you consider that the central city of Cape Town accounts for 240 000 commuters (private vehicles and public transport) who commute in an out of the city centre every single working day of the week, the market is an incredibly attractive one for retail trade.”

 

NEW RETAILERS WITHIN CBD OVER LAST 12 MONTHS

Name

Address

In CBD for

Category

 

 

 

 

Summin Dif’rent

Shortmarket Street

6 months

African Crafts

Eluma Arts & Stuff

Hout/St Georges Streets

3 months

Art Gallery

AVA

Long Street

2 months

Art Gallery

Nedbank

Cnr St Georges Mall/Riebeek

6 months

Bank

Saracens

Loop Street

7 months

Bar

Serendipity

198 Long Street

2 months

Bookshop

Clothing Parade

Riebeek Street

5 months

Clothing

Milk

277 Long Street

3 months

Clothing

Mememe

279 Long Street

2 months

Clothing

Poza

216 Long Street

4 months

Clothing

Misfit

198 Long Street

12 months

Clothing

Funkadelic Strawberry

167 Long Street

5 months

Clothing

Jeep

79 Long Street

3 months

Clothing Store

Hi Fashion

Riebeeck & Adderley Str

7 months

Clothing Store

Crush

St Georges Mall

6 months

Coffee Shop

New York Coffee & Sugar Exchange

Adderley Street

5 months

Coffee Shop

New York Coffee & Sugar Exchange

Buitenkant Street

5 months

Coffee Shop

Reivilo Electronic

3 Jetty Street

2 months

Electronics

Marven Finance

Adderley Street

3 months

Finance Company

Petersen’s

50 Riebeek Street

5 months

Furniture Store

Marie Stopes

Cnr Hout & Bree Str

3 months

Health Clinic

Bohemian Lifestyle

168 Long Street

4 months

Homeware

Pink A

248 Long Street

3 months

Homeware

Eurocasa

Riebeek Street

6 months

Italian Furniture

Model Company

Cnr Hout & Bree Streets

3 months

Model Agency Karoo Classics

Barr’s Pharmacy

Parkade Mall

3 months

Pharmacy

Lion Print

Adderley Street

1 year

Printing

Kwiktek Electronics

33 Bree Street

5 months

Electronic equip.

Fuel Café

109 Hertzog Boulevard

4 months

Restaurant

Praca Verde

Shortmarket Street

1 year

Restaurant

Café Zanne

138 Long Street

1 months

Restaurant

Robertsons Restaurant & Expresso

125 Buitengracht Street

7 months

Restaurant

Next Direct Shoes

Old Time Square

8 months

Shoe Shop

Mikes Sports

Strand Street

3 months

Sport Shop

Calamari Express

Shortmarket Street

3 months

T/Away calamari

House of Pasta

135 Long Street

5 months

Take-Aways

 

 

Please note:

This list of retailers is only for 2002

The list compiled by the Central City Improvement District is to the best of our knowledge

Retailers listed are only those within the CID area – in other words, new retailers in the central city but outside the CID area have not been counted.  There may well be other new retailers which have opened but which are not accounted for.


Publisher: Enid Vickers
Source: Enid Vickers

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