When I went to BBQ Plaza with my friends yesterday, it was bad. They are having free refill type of promotion with a flat price. Usually, there will be tons of people queuing up outside BBQ Plaza, waiting in line for their turn to eat but it's really different yesterday. When I reached, there are only less than 10 tables occupied.
Immediately I thought of the bad economy in Malaysia that cause a lot of people cannot secure a job. Some of the shops in shopping mall is closing down, doing warehouse sales, stopped operating and so on. I am now feeling very lucky, to get a decent job and pay in this new MNC company.
Since the economy is getting worse, some of the field of business is getting affected such as food industry, automotive, entertainment, furniture and so on.
Food industry is being affected when many people cannot afford to eat out as often as they used to be. More people who have no job, will think of a way to do business and usually the first thing that comes to their mind is food industry. They assume that no matter how bad is the economy, human still need to eat. However, when more and more people thinking this way, it only means the supply of food increased. In the morning, people might be able to find nasi lemak stall in every 100-500 meters. With so many supply and the demand stays the same, or should I say, the demand actually decreased because people find alternative way to cut cost such as cook their own food, buy some bread from groceries or they even become food business owner as well, do you really think it is good to start a food business? Good thing about this for consumer is, the price might stay the same or even drop a little because of the competitive industry.
For automotive industry, I always heard people complained or even some video in facebook saying that their business had declined tremendously in the past half year to one year. This is especially to second hand car business owner. They used to be able to sell 1 car a day, to become 1 or 2 in a week, or 1 or 2 in a month. I can't say this is 100% true throughout the whole Malaysia because usually the review comes from a big city where the famous car brand as Honda, Toyota and so on monopolized the whole industry. However, for rural and suburb area, the business for second hand car should still be good because they usually don't need new car to drive around and they don't want to have a 5-9 years loan with bank to buy a car. For this industry, I personally think that it is still doable but it will be risky because no one can accurately predict what will in future.
As for other fields such as entertainment, furniture and so on, it's even worse because it is not necessity for life. You can survive without entertainment but of course, it had become a necessity for people who stays in big city where stress and pressure accumulate. That's why entertainment won't really be affected in big city but overall, I believer less people will go as often as they used to be. For example, people might go to sing k or drink in a pub or bar every week or months but maybe they will only go once every few months. I used to sing k very often like once a month but in this year, it had been decreased to once every 3-5 months. The rate of me going to watch movie had decreased as well.
But of course, there are some industry that won't be greatly impacted by bad economy. Let's see if I can squeeze enough time to write that out next.
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