BLEAK LUNAR NEW YEAR: PETALING STREET TRADERS FACE DOWNTURN IN FORTUNES

KUALA LUMPUR – Most shops in Petaling Street are facing a business slowdown due to competitive sales practices and also the implementation of Goods and Services tax (GST).

One of the shopowners who wished to be identified as Ng said his business has slowed down compared to last year as customers are comparing prices.

He said customers are now looking for cheaper items.

He added he has to sell his items like lanterns, paper cutouts, cookies and toys at higher prices due to GST.

“Last year, before the implementation of GST, the items were way cheaper but we have to increase the price because of it,” he told theSun.

“This could be one of the reasons why business is slow this year,” he said.

A cookie shop owner who wished to be identified as Lum said he has his regular customers who patronise his shop yearly and he offers them a 10% discount.

He said his business this year has gone down slightly as the market is competitive nowadays.

“We sell one box of cookies for RM25 but outside it is selling for RM20. Customers are always comparing prices,” he said.

He said due to this, he has to come up with promotions such as five boxes of cookies for RM110.

When asked if GST was one of the reason he has to raise prices, he said yes.

“Before GST was implemented, the cookies were selling for about RM22,” he said.

“No matter what the situation may be, I hope this year is a good year for everyone,” he added.

– Sundaily