Retail outlets, furniture and clothing shop operators say there has been subdued spending in just a week before the Christmas holiday as consumers are more cautious.
Christmas is upon us and to fashion enthusiasts, it is time to spend the hard earned bonuses and spoil the loved ones.
The festive season is synonymous with impulsive buying and considerable profits for the retailers.
Contrary to the expectations of most retail and clothing shop operators, spending during this festive season is subdued.
â€œThere is no significant change in the demand of goods even though we are just left with a week to the Christimas day,â€ said Mr Da Sila, a retailer.
The month of December has in the past years been characterised by speculative tendencies as business people try to take advantage of huge demand for goods during the festive holidays.
With inflation rate for November unchanged from the October level of 4,2%, consumers have called upon the retailers to desist from the culture of profiteering.
â€œRetailers should desist from a tendency of taking advantage of high demand of goods by consumers during the festive season and unjustifiably inflate the prices of goods,â€ said one concerned consumer.
With many parents known to have the tendencies of spending beyond their purses during the festive season, it is advisable that they be wary of the demands of the New Year, which include the payment of school fees and buying uniforms.
This yearâ€™s festive season comes at a time there is still challenges on the demand side of the economy as there is little disposable income particularly among the civil servants.Â