We're still in the middle of October, but once November rolls round the year-end sales will be kicking off. With Christmas and Chinese New Year to look forward to in the months ahead retail spending is expected to go up right until January.
While the year-end sales will likely raise more growth in the retail industry, the Malaysian Association for Shopping and Highrise Complex Management past president Richard Chan is a little cautious as he's unsure if the retail industry could grow as much in the current quarter as it did in the corresponding period in 2012.
I don’t know if sales in this quarter will surpass sales achieved last year. If we can at least maintain the growth, it would be fantastic, he said.
An analyst was also being cautious, but still pretty optimistic. The analyst claims that as the year-end is also when employees get their bonuses, this is the best period for malls to have sales. This will definitely mitigate the many issues Malaysians are currently facing after price hike in petrol, where the prices of flour and sugar are expected to rise and the prospect of GST being imposed in the 2015.
If all that bad news is bringing you down, then the sales may be just what you need to lift your spirits up during the festive seasons!