After a tough 2008, 2009 looks to be just fine — and it kicks off with a whopping 19% drop in petrol prices on Wednesday.
Jan Potgieter, managing director of Massdiscounters, which controls Game and Dion Wired, said: “There was a swing to electronic appliances such as TVs and TV games as more people stayed at home this year and needed something to keep them occupied.”
The careful way in which consumers have spent cash this holiday season also reflects a welcome slow-down in credit spending.
South Africans are also benefiting from better weather after two years of drought, and a sharp fall in international oil prices.
Most economists believe it was the first in a series of cuts that, by the end of 2009, will put much-needed cash back in the pockets of consumers.
