THE Chinese are not cutting back on their usual preparations for the coming Chinese New Year despite talks of a slowdown in the economy, with traders saying business is about the same as last year.

They said the market for festive-related goods is showing no signs of slowing, despite many complaining that their pay and bonuses have either remained stagnant or shrunk.

Consumers are not holding back as the Chinese still regard the festivity as an opportunity to celebrate, shop owners said.

Teh Shu Kong, whose family have been selling preserved meat at the Petaling Street market for three generations, said business is mostly unaffected even though the economy is not doing well.

“We have been doing business here for three generations and we get regular customers every year. These things are what we traditionally consume during Chinese New Year.

“Even if the economy isn’t good, the celebrations will still go on and people will still eat traditional Chinese food,” Teh told The Malaysian Insight.

Teh admitted, however, he was a bit more wary this year and as a result, did not import as much stock as usual to avoid having too much surplus.

He also said a swine flu outbreak in China has not affected business as the pork imported into Malaysia is safe with sales remaining strong.

Cake and biscuit seller Wong Yi Onn’s stall continues to attract customers as it has done the previous years.

Wong said business is almost similar to last year as Chinese New Year is celebrated with lots of food, both for personal consumption and to serve guests.

“Biscuits and cakes are inexpensive things, and they are essentials for Chinese New Year. There’s no question of people trying to save by not buying biscuits or cakes. At most, people will just buy less and the business can still survive,” he said.

Wong is maintaining last year’s prices, which is one way to attract more customers.

Besides biscuits and preserved meat, another Chinese New Year staple is dried meat or bak kwa.

Oloiya, a top bak kwa maker in Malaysia, told The Malaysian Insight that sales are looking good with only three weeks to go until Chinese New Year on February 5.

“Off the top of my head, our shops in the city are doing quite well. Our online orders are also comparable to last year, so we are optimistic about this year’s sales figures,” Oloiya director Raymond Khue said.

Sales have yet to reach its peak as past experience shows that most customers will only stock up in the last week before Chinese New Year. However, he is confident that the numbers for this year will match last year’s.

Shopper Mei Hui Chin said can feel the Chinese New Year “spirit”.

“I think it’s not bad, there’s still some time before the Chinese New Year, I believe the pace will pick up the closer we get,” she said.

Asked if she is cutting back because of the poor economy, Mei said Chinese New Year goes on even if the economy is not doing well and essentials will still be purchased.

Yong Kian Yew, who came to Petaling Street all the way from Klang, said his family do not mind spending on Chinese New Year essentials as the items are all for personal consumption. – January 20, 2019.