The Rand: Not too bad – yet
Morné Howell, Afro-Thai Imports
Port Edward (SA) – On Tuesday last week I put out my price list for the year – now we might have to revisit some of them. We were very upbeat – we still are – about our range, but the economy will contract if the Rand keeps falling. We’re more concerned about the end consumer – right now people won’t go out and shop as freely as they would have done a week ago.
Last year it was most volatile over December and January. This year the currency was stable over the critical period, which makes you look at your margins, costings and forward cover to cut where you can because retail is so tough. This next week will be as exciting as last week.
Roger Zeino, Branded Footwear & Clothing Co
Cape Town (SA) – As things stand at around the R13.50 to USD, it’s an acceptable rate. During various stages of 2016 the currency was at far worse levels. Everyone is currently in the same boat, and I think as long as we don’t see the value depreciate to beyond 15 to USD we should be able to manage. Once we start breaking that threshold, we need to raise prices aggressively, which will having damaging consequences as there is a limit to what the consumer can afford to, or is willing to pay for technical gear.
Clive Wood, Crown Footwear Group
Pinetown (SA) – We costed at R13.50, so we should be alright. But of course we don’t know where it will go. It was over R14 not so long ago.
Ridwaan Moola, Dolce Vita division of Foot Focus
Durban (SA) – "The volatility does affect all importers and creates a negative mindset. However, at the Foot Focus group, we strive to add value to the retailer in terms of product and pricing which in turn benefits the consumer and we will continue to connect retail and trends and give guidance to our retailers in these tough trading times.”
