The Malaysia Savings Sale 2008
THE MALAYSIA SAVINGS SALE 2008
The Gardens Mid Valley
YB DATO’ SRI AZALINA DATO’ OTHMAN SAID
THE MINISTER OF TOURISM, MALAYSIA
(1) YAB DATO’ SRI NAJIB BIN TUN ABDUL RAZAK
DEPUTY PRIME MINISTER
(2) YBHG DATO’ ONG HONG PENG
MINISTRY OF TOURISM, MALAYSIA
(3) YBRS MR AMIRUDDIN ABU
ACTING DIRECTOR GENERAL
(4) MR. TONY MARIADASS
SHOPPING MALAYSIA SECRETARIAT
(4) MR. JIM CHEAH
VICE PRESIDENT & COUNTRY MANAGER
MASTERCARD WORLDWIDE PTE LTD
& Members of the media,
Good Afternoon and Selamat Datang.
Firstly, I would like to thank YAB Dato’ Sri Mohamad Najib Tun Abdul Razak, our beloved Deputy Prime Minister for taking the time from his busy schedule, to be with us today; and, to introduce our new Sale campaign.
Today’s global economic shift, calls for imminent, economic action. My Ministry’s response is – MALAYSIA SAVINGS SALE 2008 or MSS, a nationwide sales event, jointly organized with the Tourism Malaysia and the Shopping Malaysia Secretariat.
With the Malaysia GP Sale and the Malaysia Mega Sale Carnival, the Malaysia Savings Sale is branding Malaysia as “an International Shopping Destination of Distinction”.
My Ministry’s purpose is multi-pronged. That is to say – to create more sales opportunities in order to generate more revenue for Malaysia.
Previously known as the Malaysia Year-End Sale or M-YES, the Malaysia Savings Sale has become a positioning opportunity to encourage people to shop during the Sales period.
Spread over 38-days, the Malaysia Savings Sale is appropriately timed to coincide with the year-end holiday season, and the start of a new year.
By taking advantage of festive bargains and year-end sales, Malaysians and tourists alike, can plan on savings and still enjoy the sales!
Ladies and Gentlemen,
A recent newspaper report quoted the Malaysian Retailer-Chains Association President as saying that sales are down by 10% as a result of the recent fuel price increase but studies (by Henry Butcher Retail) have shown that shoppers are still visiting shopping centers, be it a weekend activity or family outing.
The Malaysia Retail Industry Report showed that the 1st quarter of the 2008 Retail Performance recorded strong growth rate of 12.1% in sales, as compared to the same period in 2007 at 8.7%.
The recent MasterCard statistics from the Malaysia Mega Sale Carnival 2008 showed that the recent downturn in cash flow was compensated by credit card use. MasterCard cardholders spent close to a total of RM4.13 billion during the 59 days of the Malaysia Mega Sale Carnival (5 July – 1 September 2008).
Average spend per day rose from RM56.7 million to RM69.7 million, reflecting an increase of 22.7% from MMSC 2007. The average spend per transaction increased 19%, from RM217.4 last year to RM257.6 this year.
According to MasterCard processing data, Malaysian cardholders made 15.3 million transactions this MMSC, spending around RM3.9 billion. The Sale also received strong support from tourists, who spent more than RM390 million with their MasterCard cards during the full Sale period, reflecting a 13.2% increase over last year.
To further up-shift the shopping momentum, Tourism Malaysia’s strategy includes:
· First, building and enriching the “Shopping in Malaysia” brand
· Second, reinforcing shopping branding internationally by showcasing Malaysia’s shopping sophistication
· Thirdly, working on the support in the development and promotion of more locally made products and brands, to achieve international status
· Fourthly, working on the shopping experience through strategic alliances with relevant industry players; for example with the Ministry of Domestic Trade and Consumer Affairs to extend shopping hours to midnight. And, as well as the various airlines like MAS and Air Asia to organise promotions and giveaways to promote the sale period, and also
· Finally, to team up with leading shopping centres in the city to develop programmes that can attract the interest of high yield shopping tourists.
Finally, I like to thank MasterCard Worldwide and all other parties, who have contributed towards the success of MSS 2008, and as well as other events. I also like to extend my appreciation to the organisers for garnering the co-operation of the retail industry and related parties like Ministry of Domestic Trade and Consumer Affairs, Malaysia Retailers Association (MRA) and others in ensuring the success of MSS 2008.
The Ministry of Tourism and Tourism Malaysia, we are committed, to actively promote Malaysia, as a “year-round, trendy and value for money” destination.
With this, I wish all our visitors and Malaysians – A great time shopping!