| Like shoppers the world over, South Africans love a bargain - even if it means spending on items that aren't on the list. The adoption of the American tradition of Black Friday and Cyber Monday over the past few years has skewed spending away from December and into November as consumers flock to stores or go online for some early Christmas shopping. Last year was no different. Figures out from Stats SA yesterday showed retail sales beating expectations in November, putting the sector on track to make a positive contribution to economic growth for the final quarter of 2019 - unless December's sales weaken as they did in 2018. Truworths was first out of the starting gate with its latest sales numbers and they weren't particularly good. While this might seem at odds with the retail sales numbers released yesterday, the subdued performance was in a large part due to its Office chain of shoe shops in the UK, where spending has been impacted by consumer uncertainty around Brexit. UK shopping centre owner New Frontier Properties doesn't expect an improvement any time soon unless post-Brexit trade deals are struck quickly. While there may still be some life in the local retail sector, logistics companies remain under pressure. OneLogix fell sharply after it warned of a decline in first-half earnings due to the listless economy. Also today, Phumelela says it continues to engage with the Gauteng Gambling Board after it was stripped of its share of a levy on punters' winnings last year. And it is also considering selling a stake to black empowerment investors in its attempt to raise more capital. Finally, Uprise Africa has launched its first real estate crowdfunding opportunity which it believes is a win-win for everyone, from developers to investors and local communities and landowners. Read on to find out how development crowdfunding works. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect | 