KOTA KINABALU: Consumers need to be smart in managing finances by understanding the difference between needs and wants, especially when making purchases ahead of the Chinese New Year celebrations.
Sabah West Coast Wise Consumers Association patron Datuk Amisah Yassin said consumers should spend wisely and not be easily influenced by commercials and promotions that exceed their financial ability.
“Consumers should be vigilant and not spend indiscriminately. In the upcoming festive season, there are definitely those who want to spend more than usual, but always be a smart consumer, prioritise what is necessary so that there will be no regret later,” she said in a statement here today.
She said it is important due the economic uncertainty with various challenges brought by COVID-19 pandemic, among which many people have lost their jobs.
Meanwhile, the association chairman David Chan urged traders not to take advantage by raising the price of goods, especially controlled items.
“Although traders are affected by the current decline in sales, never tarnish the integrity as prudent traders and they should not take advantage of consumers,” he said.
He said traders who increase the price of controlled items such as eggs, sugar, flour and so on will be subject to legal action or compounded if convicted.
“Therefore, traders should not increase the price of controlled items without permission from the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) and consumers are urged to report to the ministry if faced with such a situation,” he said. — Bernama
