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Food, please, and hold the booze


2009/05/08

By ZWELI MOKGATA

SOUTH Africans spent more money eating out in February than drinking at pubs, data from StatsSA showed yesterday.

Restaurant food sales were slightly higher than last February, while liquor sales at bars plummeted.

Takings at restaurants, fast food outlets and caterers were up 3.9 percent to R2.1billion.

Income from bar sales fell by 20.1 percent to R210.6million.

For the three months to February 2009 food sales increased by 10.8 percent compared to the previous corresponding period, while bar sales fell by 14.9 percent.

Economists put it down to lower disposable income.

Nedcor Securities retail analyst Syd Vianello said beer sales at SA Breweries had fallen by 10percent for the three months to March.

“There was also a price increase for alcohol products in February, which people didn’t take too kindly to,” he said. “The growth in food sales was a function of falling interest rates giving people more money in their pockets.”

Richard Downing, chief economist at the SA Chamber of Commerce and Industry, said that in difficult times people preferred to spend their extra cash on food rather than alcohol.

He said: “ I expect that bars will remain under pressure with a possible change in direction when the soccer tournaments (Confederations Cup and World Cup) begin.”

Jaco Kleynhans, Solidarity spokesperson, said: “We’re not sure about the correctness of these statistics. South Africa has had one of the highest food inflation levels across the world, peaking at 2 percent last year. Many restaurants have already closed down.”




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