adminOliver Kazunga, Senior Business Reporter
RETAILERS in Bulawayo’s Central Business District (CBD) say business during this year’s festive season is low compared to previous seasons.
Some of the shop attendants at major retail outlets in the CBD told Business Chronicle yesterday that consumer spending was low compared to previous years.
They attributed the situation to the prevailing cash shortages.
In light of this challenge, the Reserve Bank of Zimbabwe has encouraged the transacting public to make use of electronic payment systems and plastic money.
“This is the time of the year that we normally experience brisk business but this year is different.
This is probably so because some civil servants are yet to be paid,” said a till operator at one of the leading retail chain.
She said that the low consumer spending could be attributed to the prevailing cash shortages.
“Under normal circumstances, a majority of consumers would have done their shopping for the festive season by this time of the year but probably because of the cash shortages consumer spending is on the lower side.”
A worker at another leading retail chain who also preferred not to be named, echoed similar sentiments but said business was likely to pick up in the remaining days. The worker said the increased daily withdrawal limits of $100 a day was likely to see business improving.
A worker at a furniture retail who preferred not to be named also said business was very low.
“Not many customers are coming in to buy or making enquiries,” he said.
Some retailers have slashed prices by between 15 percent and 20 percent as part of efforts to boost sales during the festive season.
— @okazunga.
Online Reporter