PETALING JAYA: The public are advised to adopt smarter spending habits to avoid impulsive purchases and overspending during the fasting month at Ramadan bazaars.
With about 40 bazaars in Kuala Lumpur alone – drawing large crowds eager to explore diverse food offerings – the abundance of choices can lead to unplanned spending.
Universiti Teknologi Mara department of economics and financial studies senior lecturer Dr Mohamad Idham Md Razak said such behaviour can be controlled by using
pre-commitment techniques such as cash-only budgets and organised shopping lists to curb unnecessary expenses.
“Implementing fixed income percentage spending limits and practicing delayed gratification by returning to stalls after an initial viewing helps prevent overspending.
“It aligns with the ‘nudge theory’, which subtly guides consumer behaviour while preserving individual choice, ensuring smarter financial decisions during festive shopping,” he said.
A check by theSun at several bazaars in the Klang Valley revealed noticeable price increases for various food items compared with last year.
For example, a serving of chicken briyani, previously priced at RM10, now costs RM15, while Roti John, a popular Ramadan favourite which used to be RM8 to RM10, is now RM12.
Many food hawkers highlighted factors such as rising costs of raw materials and rental fees for their stalls as reasons for the price hike, resulting in consumers spending more for the same meals.
Mohamad Idham said comparing prices helps consumers make cost-effective choices, reducing personal expenses while pressuring vendors to maintain competitive pricing, ultimately improving market transparency.
“Spontaneous buying at bazaars redirects money away from necessary expenses, while causing short-term spending to increase at
the cost of financial savings,” he said.
He added that the high demand for certain foods during Ramadan puts pressure on supply chains, causing temporary price increases.
“Prices usually stabilise after the festive season, but ongoing supply issues or hoarding can keep costs high, creating price instability similar to what is seen in unpredictable markets,” he said.
The price dynamics at bazaars are influenced by seasonal factors as sellers take advantage of the once-a-year demand for traditional goods to increase prices, knowing consumers are less sensitive to price changes during this period.
“During Ramadan, price spikes for certain ingredients and products become more pronounced due to seasonal scarcity.
“Price comparison and budget tracking apps, such as MAE by Maybank, help reduce information gaps, allowing users to make quick and informed decisions,” he said.
Federation of Malaysian Consumers Associations chief operating officer Nur Asyikin Aminuddin said while complaints about overpriced items at bazaars remain
low as the fasting month has just begun, some consumers have already raised concerns.
“We have received feedback regarding food items not aligning with advertised prices.
This, along with complaints about high prices and poor quality, creates an unfair situation for consumers and could lead to dissatisfaction,” she said.
Nur Asyikin urged vendors to practice ethical pricing and maintain food quality
to ensure a fair and enjoyable experience for all consumers.
She also called on sellers to display prices clearly in a way that is easily visible to consumers, ensuring transaction transparency and allowing consumers to make informed decisions before purchasing.
“Consumers should be mindful of their budget when making purchases. If the price of food does not match its quality, a complaint can be filed with the Domestic Trade and Consumer Affairs Ministry.
“Consumers are also encouraged to be more disciplined by purchasing only what they need to reduce food and money wastage,” she said.
She added that adopting mindful spending habits helps maintain personal finances and reduces environmental impact, as food wastage is an increasingly important issue, especially during Ramadan.
