The Malaysian retail industry has been one of the largest contributing sectors to the country’s gross domestic product (GDP) for the past decades. Several national and international brands have been performing in the country with a broad range of retail outlets across the nation. Despite several new store launches and a broad network of stores, the retail industry has registered a slow rate during the study period, which was drastically dropped during 2020 owing to the COVID-19 pandemic. The movement control order (MCO) restricted the public movement, and the lockdown, which was originally expected to last for two weeks in March 2020 and extended to mid-May 2020, has resulted in a sudden drop in total revenue generated from the retail sector. The sector contracted by around 16% in 2020. Some of the retail segments recorded a great contract, including double-digit contractions during 2020, which includes apparel, footwear, fashion accessories, and others. Similarly, one of the largest distribution channel segments – the hypermarkets, supermarkets, and convenience stores – recorded a drop in the total sales generated.
As one of the leading countries for e-commerce growth, the e-commerce industry in Malaysia shows a promising future. Within Southeast Asia, Malaysia rivaled Vietnam and the Philippines, although its e-commerce market volume is not as big as Indonesia or Thailand. Nevertheless, because of factors including Malaysia’s high internet penetration rate and the popularity of online marketplaces, the gross merchandise value of the e-commerce market in the country is expected to grow significantly by 2025.
The Malaysia Retail & E-commerce Summit 2023 will gather over 120+ Retail & E-commerce professionals for them to witness the latest & game changing solutions/technologies. Also, the event will focus on How mobile, social and data will change the e-commerce landscape & the ways to acquire customers and optimise your e-commerce site for sales.
The conference programme is packed full of retail case-studies, big-brand speakers and fast-growing brands with actionable advice to take back to the office; suppliers offering innovative solutions, be ready to network… DON’T MISS OUT!