Retailers bring back credit to lure customers
The move has been necessitated by the introduction of a multicurrency regime in the country, which allowed shops to restock and resume business which had been hamstrung by price controls and poor supply and delivery constraints.
But now, the merchandise shops, which had turned into an eye sore after being depleted of stock during the crisis, are now full again and allowing credit purchases as competition intensifies.
“Take the credit,” says Edgars Store, majority-owned by South Africa's Edgars Group.
“Open or re-open an account today, spend US$100 and get 10% discount,” the company says.
Other clothing and footwear retailers - Truworths, Greatermans, Barbours and Meikles - have also joined the bandwagon, offering different incentives to customers choosing to make purchases under the re-introduced credit facilities.
But there is still a marked sense of caution in terms of how much the merchandise shops are willing to extend as credit to individuals: most are sticking to the US$100 (around R750) limit per customer - and for most Zimbabweans, it's still worth the cheer!
About Dumisani Ndlela
Dumisani Ndlela is a Zimbabwean journalist specialising in business and financial reporting, with experience reporting on commodities, stock and financial markets, advertising, marketing and the media. He has previously reported from a number of regional countries as well as from the UK and Germany on commodities and regional integration. He can be contacted on ku.oc.oohay@aleldnd.
