Strong economy expected to spur Christmas spending
Strong economy expected to spur Christmas spending
Retailers are expecting increased sales over the Christmas and New Year period, with consumers spending more due to the strong performance of the Cambodian economy.Yoeng Ranty, a cashier at Little Fashion, said her store was discounting products by 20 per cent during Christmas until New Year’s Day.
“We are having a hot sale, with 20 per cent off products such as shoes, bags, clothing and cosmetics from now until January 1. All customers will get a 20 per cent discount when they spend $50,” Ranty said.
Little Fashion has three branches in Phnom Penh selling some 1,000 products imported from Vietnam, Thailand and Hong Kong, she added.
“I think this period is the best time to have a sale. We can earn $2,000 per day over the course of the promotion,” Ranty said.
Prom Rethear, an optician at Modern Optics, told The Post that his chain of eyecare stores was offering 50 per cent off during the holiday period, with free glasses fixing.
Modern Optics, established in 1997, has six branches in Phnom Penh.
“We hope our promotion will attract new customers. We have the latest products imported from Japan, France and Italy,” Rethear said.
An Chanthla, the CEO of Romdoul Bokor Restaurant, said there would be a 20 per cent discount at his restaurant on January 31 and New Year’s Eve, after the same reduction was offered on Christmas Eve and Christmas Day.
He said he anticipated a 60 per cent increase in Christmas Day bookings at his 25-table restaurant this year, while he expected it to be full on New Year’s Day.
“I predict an increase in custom of more than 60 per cent compared to last year,” Chanthla said.
Customers usually spent at least $20 per person or around $100 per one five-person table during the holiday season, he added.
Phnom Penh resident Hak Senghout said he normally spent around $50 buying 10 items of clothing for his family at retail stores over Christmas.
“This period is a very good time for me to spend on things we like, especially clothing at low prices,” he said.
The Cambodian government has said it expects 7.1 per cent economic growth this year, pushing the country’s income per capita to $1,674.
