1 week ago
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SINGAPORE: Shoppers may be willing to fork out more for some products and services in the lead-up to Chinese New Year, but Singapore's consumer watchdog has urged sellers to be upfront about seasonal increases during the period.
This comes as the Consumers Association of Singapore (CASE) received nine complaints last year over such surcharges, up from four in 2022 and six in 2023.
The cases involved services like car washes as well as hair, manicure and pedicures, where consumers were not told of surcharges of up to 30 per cent beforehand.
REASON BEHIND HIGHER PRICES
CASE noted that businesses may need to raise prices as food items and labour could get pricier during this period.
For instance, nail salon Nails Actually, located in Buona Vista, has levied a surcharge of between S$5 (US$3.70) and S$15 as the Chinese New Year period approaches.
“On top of packages, we also give out credits and more discounts when they visit our store. So the sales during this period will actually help us to cover the low-profit months throughout the year," said its owner Jason Tan.
He added that the additional profit generated will be shared among employees.
Items at wet markets could also go for higher prices.
One seller said that his vegetables cost 40 per cent more than they usually do, pointing to the rainy weather reducing the supply of crops.
Another seafood stallholder, who sells prawns in bulk, said that his supplier has jacked up the price from S$10 to S$16 per kg.
Typically, prices during the Chinese New Year period go up more than 30 per cent, based on a benchmarking exercise, said NTUC FairPrice’s director of fresh and frozen products Andy Chang.
However, for the third year in a row, the supermarket chain has maintained prices of items commonly used for cooking during Chinese New Year like shiitake mushroom and Chinese cabbage. This year, it has also added pork items into the basket of products that it freezes prices on.
LOW SALES AT BAZAAR
Even as consumers snap up must-buy items whatever their cost, some stalls at the annual Chinese New Year bazaar in Chinatown are slashing prices in a last-ditch attempt to rake in some profit.
This comes amid bad business, which sellers attributed to the persistent rain.
Those who also hawked their wares last year said sales have seen a 30 per cent drop this year.
"I used to only sell one for S$1. Now I sell eight for S$1. If I don't do this nobody will buy. Now … It is selling a lot,” said one stallholder selling decorations.
The Chinatown Festivals Committee hopes that its annual countdown on Tuesday night will boost sales.
“Right after the countdown party, there's also going to be a lot of amazing promotions, and we really hope to encourage more Singaporeans to come here and do last-minute Chinese New Year shopping,” said the committee’s head of public relations Luo Chen Jun.
While stalls close at 10.30pm daily, some will stay open until 1am on the fair's final day on Tuesday.
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