Cape Town - Reinvention has become a major trend. You can consult psychologists and therapeutic hypnotists or read self-help guides to a new you. The key is recognition that things must change; a crisis is near and a new start is overdue.
That crunch hit retailing some years ago, but we have yet to see shopping reinvention. However, recent statistics suggest change is now urgent.
According to Trade Intelligence, R78 of every R100 spent by consumers is used to pay down debt.
Standard Bank then tells us the biggest items of household expenditure are food, beverages and tobacco, accounting for 20% of consumer spend. Transport costs account for another 15%.
Typically, 60% of household spending goes on absolute essentials, with food the priority.
Food is becoming a crisis zone.