Little Xmas cheer for consumers

SURVEY: MORE NO-NO-NO THAN HO-HO-HO FOR MOST

- Ina Opperman

Despite signs that the economy is starting to improve, consumers are facing a festive season containing more no-no-no than ho-ho-ho this year.

A survey shows that 68% of participants will stay home and 71% will not be able to afford gifts for their loved ones.

Debt Rescue's festive season survey shows that:

A massive 68% of participants have no plans to travel and 62% attribute their decision to the high cost of fuel. It is evident that this will be a staycation festive season for most South Africans;

About 71% of people polled say they may have to give up on any gifting purchases at all;

About 57% of participants say high inflation is definitely a primary driver behind the changes in their festive spending behaviour, with others citing the still-high repo rate;