DURBAN - Cell C’s Chief commercial officer, Simo Mkhize, has warned consumers who buy communication devices and products to practise responsible purchasing behaviour despite the enticing deals on offer during Black Friday.
Mkhize said consumers should read the fine print. Lulama Qongqo, Mergence Investment Managers’ investment analyst, said consumers should look for the best possible deal that was based on their needs, or not buy a new device if they did not need one, because income prospects over the next few years were uncertain.
“There will probably be enticing contracts out there in the market, but the packages that companies offer may not necessarily provide the most economically efficient option. Some companies will extend the length of contracts – say, to 36 months – to make the monthly payments more attractive," Qongqo said.
However, considering that income growth would be low, consumers did not want to be in the position of paying off a contract for a phone that might have packed up after two years and having to replace that device while cash-strapped, said Qongqo.
Consumers who buy devices using credit card or personal loans should keep an eye on interest rates and credit insurance fees, she said.
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