Overview Of Retail Industry In Malaysia
The economy slowed last year with real gdp growth declining to 1 9 percent in q3 from 3 1 percent in q1.
Overview of retail industry in malaysia. At 5 5 growth total retail sales ranging from jewellery to furniture and grocery. This will be the first time the industry has contracted since the asian financial crisis in 1998. The retail industry should be prepared for changing economic conditions in the coming year.
The data was collected from selected members of malaysia retailers associations mra on their retail sale performances during the first quarter of 2020. Access new updated reports and statistics for the retail industry in malaysia. In 2018 sales turnover in the sector was reported to be about rm104 2 bil with all sub sectors suffering a decline in sales in the third quarter with the exception of pharmacy and personal.
Retail group malaysia. 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. Kuala lumpur sept 12.
This latest quarterly result was lower than the estimate made by members of mra at 5 4 in march 2018. Get the latest trends and understand the impact of the crisis on the market. In its september 2019 retail industry report rgm said this latest quarterly result did not meet market expectation.
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. Malaysia s retail industry will continue to play a formidable role in malaysia s nation s commercial property market. For the first quarter of 2015 malaysia retail industry recorded a growth rate of 4 6 in retail sales as compared to the same period in 2014.
With the outlook for global growth dimming and the uncertainty of trade tariffs unlikely to go away soon we expect real gdp growth to slow to 1 6 percent this year from 2 3 percent in 2019. The outlook for the retail market however did not look rosy in 2018 as an immediate rebound in consumer spending was highly unlikely. This is a good time for owners and retailers in the mall and retail industry to explore what the drivers are that will shape 2020 as the sector seeks to recover from a sad state of affairs in the sector.
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. 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. 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.
