The Stronger Rand: What It Means for SA Hairdressing
On Wednesday, the rand broke through the $12 barrier for the first time in more than two years. If this trend continues, what will it mean for our industry and economy? We asked four of our product suppliers for their input.
Watch: Stav Dimitriadis, Twincare CEO, speaks about the stronger rand.
Chris Stofberg: MD of Modern Hair & Beauty: A stronger rand means more affordable products for our market. This means more potential for growth in hairdressing. No matter how good our salons are, and I believe we are among the best in the world, affordability is a deciding factor for clients. If this trend continues, another benefit is that it will enable more international travel – opening up opportunities for international learning, education, and seeing how things are done in salons elsewhere.
Steve Leahy: General Manager, Kao South Africa: This bodes really well for us, and a stronger rand immediately creates a more positive outlook. We need to see consistency in its strengthening, and the world is watching what political decisions are made – but if this trend continues it will be very positive for our industry in the longer term.
Hendrien Kruger: Owner / MD, National Distributor, Inoar South Africa: A consistently stronger rand will have a positive impact on consumer prices. We at Inoar are looking for consistency in the exchange rate, more than just a lower rate. The heavy fluctuations in the rate cause many pricing issues. Let’s hope for the rate to stay at the lower levels of the last few days. This will translate into lower import prices and in turn, lower prices to our customers.