Spend­ing will drop off this De­cem­ber

Weekend Argus (Sunday Edition) - - FRONT PAGE - LUKE FOLB

BLACK Fri­day will al­most cer­tainly cast a dark pall over Christ­mas, a se­nior econ­o­mist has warned.

Fren­zied on­line spend­ing and ma­nia at brick and mor­tar shops since Fri­day have raised alarm in some quar­ters.

Ian Cruick­shanks be­lieves that shop­pers who flocked to malls across the coun­try to beat down doors and stand in long lines wait­ing for a mid­night open­ing time all to snag that dis­count price item might have less to spend on their Christ­mas gifts.

“Spend­ing al­ways goes up around Christ­mas time but I don’t ex­pect that we’re go­ing to see a spend­ing bonanza this year. We’ll see a slight in­crease in con­sumer credit around De­cem­ber be­cause it al­ways goes up any­way.”

“I’m hor­ri­fied when I see th­ese long lines of peo­ple be­cause they need to ask them­selves if it’s re­ally worth it? Be­cause spend­ing all that money on Black Fri­day will con­trib­ute neg­a­tively to their over­all spend for the month,” he said.

Canal Walk marketing man­ager Vanessa Herbst said that Black Fri­day was one of the mall’s most suc­cess­ful pro­mo­tions de­spite the doors to Game be­ing dam­aged early on Fri­day morn­ing as peo­ple forced their way in.

“Last year Black Fri­day was one of our busiest trad­ing days of the year. Many of the stores ex­tended their Black Fri­day spe­cials for the week­end,” she said.

Pick n Pay head of marketing John Brad­shaw an­nounced on Fri­day they were ex­tend­ing the deals through to yes­ter­day.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.