Consumers optimistic but cautious on spending
Sharina Ahmad | 17 May 2019 00:30
The challenging market environment in Malaysia has spurred changes to consumer shopping behaviour and mindset, says Nielsen Company (Malaysia) Sdn Bhd consumer insights executive director Anil Anthony.
“Consumer sentiment is likely to remain cautiously optimistic following the reintroduction of the sales and service tax (SST) on Sept 1, last year to replace the goods and services tax (GST), which was implemented on April 1, 2015.
“When the government discontinued the GST and SST took place, it’s more inclined to rationalise spending. After all, prices are going up and it is impacting the consumer,” Anil tells FocusM.
Despite this, the consumer spending trend appears normal but cautious. “It is cautious optimism. People are more optimistic about what will be happening since GST has been abolished and SST is more of a business tax.
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