Malaysia ranks third in the 2017 Global Retail Development Index (GRDI) for second time. Retail sales in the country grew 3.8% in 2016, attributed to a 6.1% increase in private consumption. On the other hand, online retail is expected to grow at 23% per year leading up to 2021.
According to Soon Ghee Chua, Partner and Head of Southeast Asia at A.T. Kearney, the country’s success in the sector is driven by an influx of tourists, higher disposable income and government investments in infrastructure.
“Moves are being made into the convenience segment by companies such as Aeon that is set to triple its number of stores in the country to 150 within the next three years,” he adds.