Channel NewsAsia
Updated: 02/03/2013 05:36 | By Channel NewsAsia

Lunar New Year sales up but profit lower

Lunar New Year sales up but profit lower

Lunar New Year sales up but profit lower

SINGAPORE: Most stall holders at Chinatown’s Lunar New Year bazaar say sales have increased by 20 per cent this year compared with last year.

But they also say they are making less profits due to inflation and higher manpower costs.

One stall holder stocked up over 10 per cent more ’nian gao’ or Lunar New Year cakes this year, saying she is optimistic about sales.

A stall, which sells a variety of preserved meat, has raked up about 15 per cent more sales this year.

But not all stalls are reporting increased sales.

"Because it’s the Year of the Snake, the designs of our products aren’t as popular or attractive as those of the dragon last year. We’ve seen a drop in sales by about 40 per cent," said a woman who sells Lunar New Year decorations.

Some stall holders are keeping their prices stable to retain customers.

"We didn’t increase our prices, so that we can retain our customers," said a man who sells candies and preserved goods.

— CNA/ir

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