Logo of Phnom Penh Post newspaper Phnom Penh Post - Strong economy expected to spur Christmas spending

Strong economy expected to spur Christmas spending

Content image - Phnom Penh Post
The government has said it expects 7.1 per cent economic growth this year, pushing the country’s income per capita to $1,674. Heng Chivoan

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.

MOST VIEWED

  • Seven positive for Covid-19, Hun Sen confirms local transmission

    Prime Minister Hun Sen announced that there has been local community transmission of Covid-19. However, he urged the people not to panic even though the Ministry of Health announced the discovery of seven new cases on Sunday. Among the victims are Chhem Savuth, the director-general

  • Cambodia at ‘most critical moment’, Hun Sen warns

    Prime Minister Hun Sen said the first community transmission of Covid-19 in Cambodia has led the country to the “most critical moment” that warranted urgent, large-scale operations to contain the pandemic. Hun Sen, who confirmed the first local transmission on November 28, said the source of

  • PM confirms community transmission, calls for unity

    Prime Minister Hun Sen has called on the public to stay calm, unite and follow the Ministry of Health guidelines after the wife of a senior official tested positive for Covid-19 in the Kingdom’s first case of community transmission. The case has drawn criticism

  • Over 110 garment factories close

    A government official said on November 22 that at least 110 garment factories had closed in the first nine months of the year and left more than 55,000 workers without jobs – but union leaders worry those numbers could be much higher. Ministry of Labour and Vocational Training undersecretary

  • Singapore group seeks $14M in damages from PPSP over ‘breach of contract’

    Singapore-based Asiatic Group (Holdings) Ltd is seeking a minimum of $14.4 million relief from Cambodia Securities Exchange (CSX)-listed Phnom Penh Special Economic Zone Plc (PPSP) for allegedly breaching a power plant joint venture (JV) agreement. Asiatic Group’s wholly-owned Colben System Pte Ltd and 95 per

  • PM vows to protect Hun family

    Prime Minister Hun Sen has vowed to continue his fight against opposition politicians who he said intend to smash the Hun family. Without naming the politicians but apparently referring to former leaders of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), Hun Sen said there