KOTA KINABALU: Sales of Chinese New Year goods have declined over the years due to weaker purchasing power, said New Teo Seng proprietor Edmond Fung Shee Thien.
Fung said the weak ringgit had also increased the cost of imported Chinese New Year foodstuff by 10 to 15 per cent, such as almond cakes, pastry products and sweets produced in Hong Kong and China.
Despite higher costing, New Teo Seng is maintaining the prices of Chinese New Year goods in view of the weaker purchasing power.
For instance, there is no price hike in Chinese sausages produced in West Malaysia which the shop sells at RM25 to RM68 per kilogramme as well as Hong Kong-imported top grade mushrooms that are priced at RM170 per kilogramme.
“We are maintaining the old prices for a lot of products if there is no major difference in costing.
“Keeping our customers in mind, we would rather earn less profit (than to increase prices) although our costs have gone up,” Fung said.
New Teo Seng, formerly known as Chop Teo Seng, was established in 1949 at Gaya Street and is now run by the third generation of the family. Its customers are mostly regulars who have been patronizing the shop for decades.
Fung said New Teo Seng was selling less Chinese New Year goods this year as unlike the older generation, young people nowadays prefer to go travelling or opt for a simpler festive celebration without buying tons of food.
“The older generation are the ones who buy the most during Chinese New Year, like pistachios and preserved fruits.”
Fung said he had yet to see the shopping rush for Chinese New Year, which could possibly be due to the major Chinese festival this year falling so close to the new academic year, Christmas and New Year celebrations.
“Consumers are tightening their wallets after spending much during Christmas and New Year so they are unlikely to purchase Chinese New Year goods this early in time.”
Meanwhile, a staff at Boulevard Hypermarket said consumers have started buying Chinese New Year goods since the week before.
The hypermarket is selling a variety of festive products such as mandarin oranges, cookies, nian gao (sticky rice cake), sweets and decorations.
Thaiseng Supermarket Sdn Bhd, located next to SM Kian Kok, has also brought out the Chinese New Year staples such as preserved duck (RM9.60 each), preserved pork belly (RM50.50 per kilogramme) and Chinese sausages.
The sales of festivity decorations is also slow.
Jammie Chu, the owner of 8 Station & War lmage, reckoned that it was due to the proximity between the Christmas celebration, the start of the school year and the Chinese New Year celebration.
“Most of my clients are from outstation – from Tawau, Sandakan and Lahad Datu. They come here during the school holiday and usually take advantage of their time here purchasing things they need,” she explained.
She hoped her sales will start picking up in the weeks to come.
Among the decorations sold at her shop are money trees, orange trees and gold trees.