14 December 2011
South Africans have taken heed of a warning to tighten their belts, responding by opting for less expensive gifts this festive season.
Shopping centres and malls across the country are buzzing with less than two weeks to go till Christmas, but it does not look as though 2011 will be a bumper year for retailers.
Retail analysts have urged consumers not to be reckless with their money in order to avoid feeling the pinch come January.
Nonetheless, it is expected that shoppers over-indulge at this time of the year, and retailers say they have seen a significant increase in sales in the past week.
“We’ve had good sales,” said one shop owner.
Another shop owner believed that people were “cautiously spending”.