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The Times Group > Blog > Business > Festive shopping spree amid financial pressures
Business

Festive shopping spree amid financial pressures

Times News
Last updated: 2024/12/25 at 5:38 AM
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5 Min Read
FESTIVE MOOD—Consumers captured Tuesday
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By Llywellenie Mpasa

Economic hardships that many Malawians are facing could not deter them from festive season shopping norms, evidenced by crowded shopping outlets yesterday, coupled with almost uncontrolled traffic jams in the country’s major cities.

As at midday yesterday, businesses were at peak in almost all shopping outlets in the major cities and districts, with trading observed past normal operating hours.

For many, the high cost of living has, however, affected the seasonal expenditure patterns with lowered volumes of goods compared to the same period last year.

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With inflation driving up the prices of essentials like food, rent, and utilities, households across the country are forced to make difficult financial decisions.

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To understand how these economic pressures are affecting festive plans, we spoke to individuals from diverse walks of life in Blantyre about their plans for the festive season.

Stanley Kachingwe, a second-hand shoe vendor in Limbe, shared his observations on consumer behavior during the season.

“I used to count on impulse buying during this time, but business is not the way it usually was. The cost of living has risen so much that people are cutting back even on small luxuries like shoes,” he said.

For businesswoman Thokozani Mkwezalamba, who runs a school uniform and accessories shop in Limbe, the key lies in striking a balance.

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“Even during festive seasons, people are prioritizing essentials, and as a businessperson, I have to adapt to their needs. In the past, I used to adjust prices on sale for Christmas but because of issues like shortage of forex, we must strike a balance,” she said.

University student Eve Maselenga from Ndirande said she has learned to be practical in how she navigates the financial pressures during Christmas.

“I focus on affordable gifts and activities that bring joy without breaking the bank,” she said.

She added that the rising cost of essentials has reshaped her view of the festive season.

“When I was younger, Christmas was about buying new clothes and parties. Now, it is about survival. This year, I am planning to have a modest Christmas dinner at home. The rest of my earnings will go to school fees in January,” she said.

Tiya Lichopwa, from Chinyonga Township, said festive traditions should continue, but it is important to balance them with priorities, even during financial challenges.

“For me, the festive season is about family. We still celebrate, but we adjust to the economic situation by simplifying our plans,” she said.

“I will focus on buying food and paying rent. We may skip big celebrations, but at least we will have meals on the table,” Lichopwa said.

Stimera Mulera, an assistant at an English boots house shop at Chichiri Shopping Mall, said there is a significant shift in consumer priorities.

“Most Malawians are prioritising food and farm inputs over clothes. Many of my customers now are foreigners,” he said.

Grandmother Ellen Mkwete, from Mulanje, said she values festive traditions but has adjusted to economic constraints.

“I used to buy meat for the whole family, but now I just make sure we have nsima and relish. I tell my grandchildren stories about Christmas so they understand it is not just about expensive things,” she said.

The festive season spending patterns reveal a delicate balance between preserving traditions and adapting to economic realities.

As Malawians prepare for the holidays, they are reminded that the spirit of the season lies in family and togetherness, even when financial resources are limited.

Authorities concede that cost of living has in recent past been elevated by the ever soaring headline inflation.

Earlier, Consumers Association of Malawi (Cama) Executive Director John Kapito warned consumers to be extra careful when buying goods and services from the market during this Christmas and New year holidays.

“Consumers must be aware that prices of basic goods and services have risen up by an average of 70 percent compared to last year’s prices.

“Currently, consumers are experiencing one of the highest costs of living as a result of the huge devaluation of the kwacha and shortages of foreign exchange that have drastically depleted Consumers spending power,” Kapito said.

As for what the future holds for the consumers, the future itself would tell.

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Times News December 25, 2024
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