Those wishing to purchase luxury household items had better prepare to pay more as prices on cookers, sofas, freezers, washers and others have climbed significantly from last year across shops that stock these items. Some retailers said this was due to the continued loss of value of the local currency, as most of these items are imported from China, Dubai and South Africa
At Game Stores, the cost of purchasing luxury goods has fluctuated over the past four months.
Among those that have registered price increases at Game are television sets, cookers, washing machines and notebook computers, while kitchenware, home theatre systems and 32 inch TV screens have had their prices slashed down.
For instance, a 4 solid plate stove that was selling at K98, 000 between September 29 and October 2 is now going at K114, 100. However, due to a 4 solid plate stoves' promotion taking place between January 12 to 15, consumers are parting ways with K105, 100, representing a K9, 500 discount.
A 2 GB Celeron notebook computer that was going at K70, 400 between late September and early October is now going at K83.500. But, thanks again to a January 12 to January 15 promotion, buyers are paying K69, 900, which represents a discount of K13, 600.
A 6 piece cookware set is now fetching K13, 000, up from K5000 in September and October 2011.
However, prices of some goods have gone down, with a 5.1 Home Theatre System that was selling at K63, 100 between late September and early October 2011 now going at K56, 200. Despite the new price being lower than that of four months ago, consumers are being offered an automatic discount of K22, 700 to purchase the commodity at K33, 500, thanks to an on-going promotion.
Another luxury commodity that has a lower shelf price this month, than it was between September and October is the 32 inch TV screen. The average price for a 32 inch TV screen is K120, 000, while September/October prices varied from K125, 000 to K139, 000.
Efforts to talk to Game Stores store manager, Ina Boonzaaier, on what influences reductions and increases on luxury commodities, did not bear fruit on both Wednesday and Friday as she was said to be in meetings.
However, there have been concerns that a two-percent turnover tax introduced by government in the 2011/2012 budget could affect local businesses due to the fact that, even if business institutions register higher sales' volumes than they did in the 2010/11 fiscal year, profit margins will still be low.