Retail trade sales in South Africa revealed an 8.3% year-on-year increase, according to Statistics South Africa (Stats SA).

In 2010, retail sales increased by 5.2% on 2009, while sales for the fourth quarter of 2010 increased by 7.7% year-on-year. Some of the main contributors to the 7.7% increase were leathergoods and footwear and retailers in textiles and clothing.

Nedbank, one of the largest banks in South Africa, said consumer confidence is likely to improve through the course of 2011 as economic recovery continues and interest rates remain low and prospects for employment improve.

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