Spend sparingly this festive season: CCZ

Enacy Mapakame Business Reporter—

The Consumer Council of Zimbabwe has warned consumers to make careful purchasing choices during the festive season to avoid plunging themselves into debt in the coming year.The consumer body also encouraged consumers to be on the lookout for fraudsters during this period, when conmen take advantage of increased human traffic in the central business centre to prey on unsuspecting and over-excited shoppers.

CCZ executive director Ms Rosemary Siyachitema said consumers usually overspend during the festive season, driven by impulse purchases.

At such a period, company marketing also turn aggressive to lure customers and boost sales. Zimbabwean companies are stopping at nothing to grow the top line and market share in the face of waning consumer spending.

Ms Siyachitema said consumers ought to prioritise basic needs and wants, to avoid overspending, bearing in mind there still is life after festive season.

“We encourage consumers to spend sparingly this festive season. Always remember there is January coming and should be prepared for,” she said by telephone.

Ms Siyachitema also encouraged the use of plastic money as way of exercising some restrain in purchasing pattern.

But use of plastic money, she said, has its own negatives too.

“Usually people do not realise the money is spending when they are swiping until there is only $10 left in the bank account and you start to panic.

“Make a list of the things that you really need and prioritise them,” she said.

Festive season is also characterised by parties, new clothes, presents and gifts for loved ones as well as increased travel expenses with families visiting relatives in rural areas or resort towns.

This tradition is deeply rooted in many Zimbabweans, who are also hit hard on disposable incomes following failure by many companies to declare the 13th cheque for their employees due to economic challenges.

In some instances, parents struggle to meet tuition fees or make bill payments on time and battle a huge debt overhang created to fund extravagant holidays.

Ms Siyachitema highlighted consumers need to look ahead of the festive season to avoid headaches in the New Year.