Gifting and celebrating are still part of Chinese New Year even during a slowing economy
THE low ringgit and a weak economy are a double whammy. Both consumers and business owners are trying hard to stretch their ringgit.
Just two days before CNY, The Malaysian Insight did the rounds and found out that prices of goods have shot up about 10%.
Vendors are complaining that sales are down 20% to 50%, forcing them to stock fewer items. They are also being creative with hampers priced to suit various budgets. This has led to a 10% increase in sales. – February 15, 2018.