Shopaholics take note! From 1 January 2017 onwards, there will only be sales for four times a year according to the new rules by the Domestic Trade, Cooperatives and Consumerism Ministry. Oh no! Lesser sales periods!
The purpose of making this change is to draw more tourists to the country by standardising the sales periods.
Mohd Roslan Mahayudin, the ministry’s enforcement director said, “Currently, traders are allowed to hold sales five times yearly, with two set by the traders and three by the ministry.”
He also said, “Cities like Dubai and London have fixed cheap sale seasons and we see tourists going in droves to shop there during those times. Currently, traders have to put at least 70% of their overall goods for sale, but it was hard for them to find items to clear off.”
Three of the four annual sales will be determined by the Government which are the:
- early year sale from March 1 to 30
- 1Malaysia mega sale carnival from June 15 to August 31
- 1Malaysia year-end sale from November 1 to December 31
- Traders can determine the fourth sale period themselves.
Even though there’s lesser sales in a year, the new rules also states that discounts must be a minimum of 10% based on the lowest price of the item over a three month period.
This is much better as the current law only requires items to have a 5% discount. Awesome! More discounts to be had!
So the new ruling is not all bad.
But can we have both higher discounts and more sales periods instead?
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