Johannesburg - Although the figures on spending this Christmas are not yet in, analysts predict it was a bleak season for retailers.
According to the Sunday Times, experts say that although the outlook is poor, numbers could top those seen this time last year.
A study by Deloitte found the average spend on gifts was expected to increase by 4.75% this year, against last year’s low.
In 2012, cash topped the gift wish list but this year, says Deloitte, first prize for adults on the list was chocolates, closely followed by money, clothes, shoes, books and vouchers.
Meanwhile, Chris Gilmour of Absa Investments says he expects retail figures to be relatively low and that a financial hangover will be felt next month.
He said that with unsecured credit having evaporated, he could not see where people would get the money.
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