Thursday, January 14, 2016

Can We Control Price Hike?

Last week, one of the hot topics discussed was about the rising cost of living in Malaysia. Many complains about price hike in good and services. Some of these price hike are really unreasonable. There are news about milo iced sold at RM4.20 at food court locally in Kuching.

The question is, can we do something to control these price hike? Yes, we can. Because as consumer, we are the one who determine the price of the goods and services offered. 

According to my relative in Taiwan, most business are providing reasonable price now because they have to fight for the market share. If the price is above average, most probably, this shop will be handling less customers. Other than the reasonable price, they also provide friendly and excellent customer service to all customers, hoping that the customer will come back again.

Here in Malaysia, I didn't see this yet, or at least in Kuching. What I see is that businesses keep increasing their prices and customer still come back to them, even with poor quality of service. I think it's time for all of us, to learn to become a smart consumer. Try not to 'encourage' business to increase their price. We must learn to create a situation whereby businesses are trying hard to earn our money. We must create a competitive market for them. We must make them come out with excellent customer service if they wish to have a repeated sales from us.

As a consumer, we are the one who will decide the market price, not those greedy business owners. But, we can only do this if most of the consumer are smart enough when making their purchases. I don't think there will be any business which can survive without customer. Start from today, we must make smart choices in our purchases and daily life. We can't keep complaining on price hike and still continue to support these greedy business owners. We need to adjust our own lifestyle and sacrifice here and there if necessary. 

So, YES, we can control price hike.

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