Retailer AEON Malaysia revealed that the prices of products sold at its outlets have actually increased by between 3% to 5%. However, it has temporarily refrained from implementing price hikes in a bid to help consumers get used to the ongoing inflation.

“To give you some perspective, [prices of] some of our products have been increased [from] 3% to 5%, however we have been able to push down the price increases to be delayed to about 3-6 months in order for us to give space to our consumers to adapt to the current conditions,” said the managing direct of AEON Malaysia, Shafie Shamsuddin.

Shafie also shared that many suppliers have actually been putting significant pressure on AEON – and other retailers, in general – to increase the prices of its products, especially under the current inflationary pressure. Despite that, AEON has been able to resist it, and remained agile as it reacted quickly to the challenging situation.

“We believe – as retailers and as any other businesses, we need to constantly find ways to innovate and reduce our cost of goods sold, and reduce our operating costs of running the businesses. In return, we will be able to offer better quality products and services to consumers,” said Shafie in a virtual media briefing, adding that AEON will soon collaborate with its partners to launch an anti-inflation campaign.

(Sources: The Edge Markets, The Sun Daily)

• TAGS:
• AEON
• AEON Malaysia
• Groceries
• Inflation
• Shafie Shamsuddin