THERE has yet to be an increase in the prices of goods sold online since the sales and services tax came into effect on Saturday, said Shopee regional managing director Ian Ho.

He said so far, no notable price changes had been recorded for more than 19 million products sold on the e-commerce platform.

“We have seen strong sales growth across all categories – from fashion to electronics, health and beauty, as well as groceries,” he said in a statement today.

Shoppee features some 400,000 sellers and more than 500 major brands.

Ho said the lack of change in prices was mainly due to three factors – stocks were purchased during the “tax holiday”, manufacturers had yet to pass on the cost of SST to traders, and many small and medium enterprises had decided to absorb the tax.

“However, we are unsure how long prices will remain low.

“At this juncture, the market is enjoying an extended period of pre-SST prices for most goods online, and now is the time to purchase items like mobile phones, computer accessories and home appliances, before the real impact of SST is felt.” – Bernama, September 6, 2018.