Overview Of Retail Industry In Malaysia

Malaysia retail industry had yet to recover from the negative impact of goods services tax gst on consumers spending.

Overview of retail industry in malaysia. For the first quarter of 2018 malaysia retail industry recorded a below than expected growth rate of 2 6 in retail sales as compared to the same period in 2017 table 1. Retail group malaysia. This latest quarterly result was lower than the estimate made by members of mra at 5 4 in march 2018. Malaysia s retailers are expected to bring in rm10 9 billion less in sales this year after the industry cut its forecast to a 5 5 contraction from a 4 6 growth projection in december 2019.

It is because the growing opportunities of emerging international retail franchises in asia lead them to grow and spawn rapidly throughout malaysia including the increased number of outlets specializing in bakery and confectionery industry. At 5 5 growth total retail sales ranging from jewellery to furniture and grocery. This latest quarterly result was above market expectation. In its september 2019 retail industry report rgm said this latest quarterly result did not meet market expectation.

This quarterly performance is above the average growth rate of 0 1 forecasted by members of mra in august 2015 but below the expected growth rate of 2 5 calculated by retail group malaysia. In the last two decades the retail industry in malaysia started to develop and grow prominently with the entry of foreign franchises into the markets. Malaysia consumer goods and retail service offers analysis data and forecasts from the eiu to support industry executives decision making. The malaysian retail sector market is projected to witness a cagr of 3 4 during the forecast period.

It said members of malaysian retail association projected the second quarter. The unexpected drop in ringgit value worsened it. Malaysia s retail industry will continue to play a formidable role in malaysia s nation s commercial property market. The outlook for the retail market however did not look rosy in 2018 as an immediate rebound in consumer spending was highly unlikely.

Market overview for the third quarter of 2018 the malaysian retail industry achieved an encouraging growth rate of 6 7 as compared to the same period in 2017. Malaysia s retail industry reported a year on year y o y growth rate of 4 5 in retail sales in the second quarter of 2019 2q2019 according to retail group malaysia rgm. Retail sales performance during the first 2 months of 2015 was below expectation despite chinese new year festival employees received bonuses and the distribution of.