Wednesday, November 19, 2008
If recession in Malaysia is measure by the number of pair of shoes purchased by the girls and ladies,then is is CONFIRMED that Malaysia is in RECESSION.It is reported that female shoe customer will on average buy 10 pairs of shoes every year but for 2008,they on average purchase only 7 pairs of shoes.The shoe industry is feeling the pinch of the global economic meltdown as sales have dropped 25% since Hariraya.According to the Malaysia Shoe industry Association sales for 2009 will be worse. The number of pairs purchase by female is a good economy indicator as it show the purchasing power of the ladies.Many years ago,I have a girlfriend Jenny who have the same ideology in shoes as Imelda Marcos.When she go to a shoe boutique,she will buy not one or two pairs but three pairs at any one time. The maximum number of times she wear each pair of shoes is 5 times and subsequently these shoes will be display at her shoes museum until chinese new year where she will take all to her hometown Ipoh and the shoes is given to all the ladies and girls FOC.In good times the female will buy more than one pair of shoes at any given time but currently they will buy only 1 pair. Hence,the shoe industry is expecting a dropped in business of more than 30% for 2009.Therefore,a good indicator have proved that Malaysia is indeed in RECESSION.