RETAIL INDUSTRY IN MALAYSIA SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Malaysian Retail Market Analysis:

It is anticipated that the Malaysia Retail Sector will experience growth from USD 84.63 billion in 2023 to USD 112.93 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 5.94% during the forecast period (2023–2028).

The retail industry in Malaysia has been a significant contributor to the country’s Gross Domestic Product (GDP) for several decades. Numerous national and international brands have established a wide range of retail outlets throughout the nation. Despite the launch of several new stores and a broad network of outlets, the retail industry has experienced a slow rate of growth during the study period, which was further exacerbated by the COVID-19 pandemic in 2020. The Movement Control Order (MCO) imposed restrictions on public movement, and the lockdown, initially expected to last for two weeks in March 2020, was extended until mid-May 2020, resulting in a sudden decline in total revenue generated from the retail sector. The sector contracted by approximately 16% in 2020, with several retail segments experiencing double-digit contractions, including apparel, footwear, fashion accessories, and others. Similarly, one of the largest distribution channel segments, hypermarkets, supermarkets, and convenience stores, recorded a decline in total sales generated.

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