New Year’s shopping season will be the worst since early 1990s merchants say. Because consumers don’t like to buy lump sum of food or new garments and clothing for themselves. Especially car business is in crisis. Its sales dropped sharply by 90%. It was because of loan from combanks has stopped and people’s tendency of saving their income. Moreover, so many cars in container are kept at customs stock. Merchants cannot pay their customs tax and people don’t like to buy new and used cars. If it will continue this way, there will be big collapse in the Mongolian used and new car sales market.
Also meat price decreased down to 2000 MNT. It even will be discounted if you buy more than 2 kilos. However, the Mongolian people are celebrating this new year with sad remembrance of early 1990s when we were buying our bread with tokens.
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