Page 4 - HGR March + April 2019

PUBLISHER’S DESK

Home Goods Retailer

POSTPONING BIG PURCHASE ITEMS Our Team

Consumer confidence has plunged again. Well, it would wouldn’t it, considering Publisher and Editor-in-chief
recent and ongoing events. A year ago consumer confidence soared as a result Contact: Ian Hughes
of Cyril Ramaphosa replacing the appalling Zuma as the country’s President.
Creating a mood of euphoria – which swept the country – and came to be Tel: 010 900 3143 | 082 553 8154
known as ‘Ramaphoria’, it promised much. Sadly it was more a desperate wish E-mail: ian@hgr.co.za
of consumers and business rather than any realistic expectation. ‘One swallow
does not make a summer’ and all that…. National Sales & Marketing
Contact: Roger Callighan
Nevertheless, though confidence has declined, it still remains at a higher level Tel: 079 102 3247
than it was prior to Ramaphosa’s elevation to the highest office in the land. This
negativity has been reflected in the latest FNB/BER Consumer Confidence Index Contact: Pippa Hughes
(CCI) which declined from a reading of seven from the last quarter of last year Tel: 082 552 2675
down to just two. The lowest since Zuma’s ouster.
Admin & Accounts
Looking at the factors which have contributed to this decline in confidence Contact: Pippa Hughes
it is easy to understand. Start with Stage 4 load shedding. Anything more
demoralising for a buckling economy already under the whip? Secondly, Tel: 082 552 2675
extended labour strikes, official and unofficial, with all the concomitant
uncertainty and production losses. And then the deteriorating exchange rate Design
causing the most vicious fuel price rises. Contact: Taryn Haley (9IT)

Indeed the BER points to the total lack of clarity as to where, as consumers, Tel: 071 602 4553
we are headed. Inevitably that leads to uncertainty and declining confidence. As E-Mail: taryn@9it.co.za
for consumer durables, by a small majority those surveyed indicated that they
would postpone such purchases for the time being or until they had more clarity
as to where the economy was headed. That could be as early as 8 May……..

Ian Hughes Copyright on all editorial in Pippa
Publications is owned by the publisher
and reproduction without permission
is prohibited. The opinions expressed
in Pippa Publications are not neces-
sarily the views held by the editor or
publisher. We reserve the right to edit
– for purposes of space and clarity – all
editorial material and letters submitted
for publication.

2 HOME GOODS RETAILER | MARCH / APRIL 2019