Auditing group Deloitte’s latest survey on Christmas shopping indicates South Africans are going to spend 4.75% more during this year's coming festive season compared with 2012. It’s obvious though that the economy is tight, with the expected average price of a Christmas gift about 23.4% lower than in 2012.
Deloitte’s retail specialist Ilse du Toit says South Africans are becoming more adult with regard to financial matters: they realise they want to have a good time, but also know they don’t want to face credit card debt in the new year.
Shoppers will look for bargains and 31% say their loyalty card programmes will influence their shopping.
Staying at home
They are willing to spend more money on get-togethers (8.96%); gifts (7.18%) and food (3.7%). About 36% of their budget for gifts will be earmarked for children, but they will budget just 1.63% more on travelling. The much higher fuel price means many people will stay at home.
The internet will have a much bigger impact on spending and 55% of those with internet access say they’re going to do online research about their planned shopping and will also check out brand names and e-commerce online services.
Nevertheless South Africans still prefer conventional shopping methods because they like the "festive atmosphere" in shops in the run-up to Christmas. Just 21% indicated they’re going to do their Christmas shopping online.
Festive season budgeting:
* More money will be earmarked for get-togethers(8.96%), gifts (7.18%) and food (3.7%); * People will spend just 1.63% more on travelling because the much higher fuel price means they’re going to stay at home; * 36% of people’s budget for gifts will be set aside for children.
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