A new forecast due to be published this week by retail analysts in the UK predicts that shoppers will spend more than ever in the run-up to Christmas. However, that will mean trading in the first quarter of 2008 - and afterwards as well - will be much tougher as consumers try to cope with their Xmas financial hangover by tightening their belts. Back here in South Africa, things appear to be pretty much the same... we're still spending too much on credit - despite the new National Credit Act - and with a further rate rise, plus a higher fuel price in the pipeline, there are going to be some heavier-than-expected financial hangovers come 1 January 2008. The trouble is, we don't like to be seen as mean, so we splash out, using credit left, right and centre, and then wait for the new year to handle the fallout. It is not wise, so, what we should be saying to all those out there who are expecting something from us in the Christmas stocking... don't hold your breath.


Rod Baker, Content Manager