SINGAPORE — Now that the year has turned, some retailers have switched from getting consumers to buy big-ticket items before the Goods and Service Tax (GST) go up to absorbing the tax increase for customers or giving them a token discount.
is not going down anytime soon, with economies around the world still working to slow interest rate hikes and inflation., particularly in the face of job uncertainty in a slowing market.
Alcohol, tobacco, vouchers, lottery and certain types of infant formula are excluded from this discount. Marche restaurant group and furnishings store Spotlight are offering similar deals and TODAY has reached out to them for comments.Housewife Teresa Ng, 50, said that she would certainly prefer to shop at places that are absorbing the tax increase for now.
If done well, the accumulated customer goodwill and relatively competitive pricing may help drive sales volume, store traffic and, in the longer run, customer loyalty, she added.
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