More sales during bad times
A friend of mine just told me Dockers @ Gardens is having sales, selling stuff for quite cheap. My family went to Jusco member sales yesterday. And ISETAN KLCC has been having sales once every 2 or 3 months, since about a year ago.
The funny thing is, there are still a lot of people buying things like there’s no tomorrow! Economy bad? Recession? Great depression coming? I don’t think so. Consumer power is still very strong in Malaysia. Everytime there’s a SALES, you will see a lot of people queueing up to pay at the cashiers. My sister told me that yesterday in Jusco, there were many people with whole trolley full of single item – dish washers, curtains, pillows, bags, etc (no milk powder).
Seriously, those people are either rich, or they forgot one thing which is very important – situation is becoming desperate all over the world. The world economy is collapsing. More and more people are becoming jobless and cash (or at least liquid assets) is king now. Buying a whole trolley of bed sheets? Unless that auntie is going to sell in eBay, I don’t see a good reason for that.
The trick that these companies used on us is that they are trying to pull down the price of their products in order to convince people that “it’s now or never”. And people will certainly fall into their traps, thus buying even though they might not have enough money to survive. In the end, the companies earn, the buyers suffer due to their own short-sightedness. I don’t blame the companies since they are doing the right thing (for themselves). I just feel people should start educating themselves more and think properly before buying, whether they really need those stuff or not.
Or at least, read (and remember) the news. Even our EPF money is not safe now. Better have a backup plan fellas.
I have just paid KLCC a visit 2 days ago and saw so many people shopping around although its a weekday. And yes I am also wondering how rich some people are to be able to buy and buy during this economic instability…
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Lisa
24 Oct 08 at 10:53 am
Well, it’s either people are in denial that the economy is going into recession or they totally believe what our new finance minister is saying. I believe the latter won’t be happening as being a Malaysian and staying here long enough, people will be smarter to a certain extent.
seaqueen00
24 Oct 08 at 11:01 am
KL composite index has plunged below 860 as I type this. Maybe people are feeling that if we’re going out, might as well go out in style?
Damien Tan
24 Oct 08 at 3:35 pm
Hmmmm… Have people forgotten about the financial crisis from 10 years ago?
Anyway, the banks are also encouraging us to spend by giving fast approval for credit cards or loans as well as giving us cash advance without any questions!
We need to cut back not because of the impending financial doom but also when we buy more stuff, we produce more trash; hence leaving a bigger footprint on the environment. Watch NGC’s The Human Footprint and you’ll understand why our generation is fast becoming a disposable generation.
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Angie Tan
24 Oct 08 at 7:06 pm
@ Lisa
I think some buy things without thinking whether they are rich enough to do so or not
@ seaqueen
I think people have this “temporary memory loss” problem when it comes to sales.
Minister or not, I’m not sure, but I must say that our Central Bank has been doing quite well. It’s just that the investors panic selling. =_=
@ Damien
Yea, and my heart is crying whenever it pluges. Hahhaa.
@ Angie
I think trash is important but it won’t have much of an impact on people since they cannot see the big picture yet. If you remind them to actual economy situation, maybe they will think properly. I think a picture of them bankrupt and broke will be more effective
People will always ask “Do i have anything to do with this? Will it hurt me?”
Alvin Lim
24 Oct 08 at 9:27 pm
Nope… That’s why after they watch the Human Footprint, they will understand how 1 person can generate so much trash in 1 life time. And multiply that by 6 billion, then you’ll see the big picture.
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Angie Tan
28 Oct 08 at 12:59 pm
@ Angie
Most people don’t care even if it’s a reality.
Alvin Lim
28 Oct 08 at 3:19 pm
Seems to have a lot of people buying stuff during sales but they are different individuals. With such a large population, it is normal to see a large number of people around when there are sales. Considering it is very little compared to the total population, like 0.001 percent only?.
With such a bad economy, people would be desperate to get cheap stuff. So i guess it is normal when there is sales to have people running about? lol. Although many went jobless but there is still TOO many people with jobs with good pay. heh.
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irvine
10 Nov 08 at 6:05 am
@ irvine
The thing about recession is that it impacts everyone, not just a few groups of people. Furthermore, if you look at the number of sales we have, and the number of people fighting for items in each of the sales, you’ll see that it’s not really “0.001%”.
Cheap stuff, yes. But it depends on what kind of stuff. Do you really need that 42 inch LCD in order to survive? No. But it’s so darn cheap! Don’t you wanna get it now?
Alvin Lim
10 Nov 08 at 10:16 am