Shoe Prices In Malaysia Increased By About 20% Over The Previous Period.

Malaysia thunderbolt

Sun Wen Quan, general secretary general, in the ninth Malaysia

The competition recommends that although the footwear industry in Malaysia has been hit by the economic downturn, the price of the domestic shoe has increased by about 20% since the implementation of the consumption tax last year. But the shoe sales in the past few years are not very good. Once the economy recovers, the shoe industry will have a good future.

Rising production costs and manpower problems are the same problems faced by shoe manufacturers all over the world. The operating costs of local businesses have increased by 20% over the past 2 years, and the prices of local shoes are rising.

"At present, all countries, including Malaysian shoe industry, are facing the problem of cost and labor shortage, but the main challenge is the economic downturn and rising prices, resulting in consumer spending reduction."

He pointed out that a few years ago, Chinese shoes entered the Malaysian market, which had an impact on the footwear industry in Malaysia, but the local shoe industry still had a foothold.

He added that there are about 500 members of the thunderbolt Footwear Association, including shoe factories and family shoe makers. They produce all kinds of shoes, 40% of which are exported, and the remaining 60% are local consumer markets.

"In recent years, the rise of shoe industry in Vietnam, Burma, Bangladesh and Kampuchea has also created competition for the local footwear industry, but the industry is optimistic."

He said that although the current economic situation, shoe operators face rising production costs and manpower problems, but as long as the industry can sustain, once the economy recovers, the future of shoe industry is still bright.

In addition, Sun Wen Quan revealed that the Perak government has allocated a lot in Ipoh, Bangladesh, as a plan for the shoe city, and the plan has been launched last year, and Ipoh shoe city is expected to be completed in the next 3 to 5 years, which will help promote the growth of the local footwear industry.