JOHOR BARU: The strengthening of the ringgit against the Singapore dollar has little impact on Chinese New Year sales here, say local traders.
They said they continue to enjoy brisk sales from customers from Singapore this festive season and expect business to improve as Chinese New Year draws closer.
Trader Kenny Ng, 29, said the crowd from Singapore makes up more than half of his customers at the Johor Jaya Chinese New Year market here.
“Due to the Covid-19 pandemic, many have gotten used to shopping online, but this year, we can finally see people reverting to physical purchases.
“I believe this has contributed to the larger crowd this year; both locals and Singaporeans.
“In fact, we also have buses dropping Singaporean customers off to shop here before picking them up a few hours later to head back.
“This shows that the strengthening of the ringgit had little impact on businesses here,” he said in an interview.
Ng, who sells traditional Malaysian Chinese snacks, said he expects the crowd, including those from Singapore, to increase in the next few days, especially during the last weekend before Chinese New Year.
“That has been the trend, and I believe we will see something similar this year,” he said.
Echoing a similar sentiment is trader Audrey Tan, 37, who said Johor will remain an attractive shopping destination for Singaporeans as it is still much cheaper to shop here.
“The Singapore dollar is still stronger compared to the ringgit, making it cheaper for Singaporeans to shop here.
“Many are also used to getting their festive items during their visit to Johor, and I think that will continue to be the trend for years to come,” she said.
Tan, who sells Chinese New Year decorations, said that apart from Singaporeans, they have also been getting more customers from China this year.
Meanwhile, at the weekend market in Johor Baru, Stephanie Hee, 34, said that although the crowd was smaller than expected, it could be other factors rather than the exchange rate.
“The crowd is slightly smaller this year, but I do not think it has anything to do with the ringgit.
“The strengthening of the ringgit against the Singapore dollar has been apparent since last year; nevertheless, we still saw a good crowd during Christmas.
“So, it is not likely due to the currency exchange, and we hope to see better sales next weekend,” said Hee, who sells jewellery.
South Johor Petty and Mobile Traders Association chairman Datuk Yow Boon Choon said his members have been reporting encouraging sales this year, with some saying that it is much better than in previous years.
“Most petty traders have been seeing good crowds so far, and it is expected to grow further in the next few days as more people rush for their Chinese New Year preparations.
“The currency exchange has not affected us so far, and I believe it will remain that way throughout the festive period,” he said.
Last week, the exchange rate for S$1 was between RM3.10 and RM3.13, compared to about RM3.30 during the corresponding period last year.
