Challenging days still ahead for retail

Drawing them in: Ban Hin Bee has doubled its promotional efforts this year to draw consumers.

THE new year may not necessarily spell out cheery new beginnings for retailers as retail businesses in Penang continue to face lukewarm prospects. Consumer confidence is expected to stay soft while uncertainties in the global economy persist.

This is, nonetheless, in line with trends of the Consumer Sentiments Index found in Malaysian Institute of Economic Research’s latest report, which shows that there is a 3.6 points decline quarter-on-quarter to 77.1 points in the third quarter of 2017.