Boston, MA -- (SBWIRE) -- 06/24/2014 -- A strong rise in household spending across all Malaysian retail subsectors is forecast over the next few years on the back of a low unemployment rate, growing urbanisation and improved standards of living for Malaysians living in rural areas. We are particularly positive about the future growth prospects for education spending, with expenditure on restaurants & hotels and health also forecast to grow strongly. However, we expect the highest proportion of the household budget to be spent on food & drink throughout our forecast period.
The Malaysia retail report provides an extensive and comprehensive forecast of various retail indicators including household spending and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, clothing & footwear, household goods, and a number of other subsectors.
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The retail landscape in Malaysia has been transformed over the past decade, with modern retail formats such as hypermarkets, supermarkets and department stores increasing in dominance over traditional 'mom and pop' outlets. Although there are still large numbers of small outlets, open markets and non-permanent retail facilities, organised retail in Malaysia has a far stronger presence than in many comparative Asian markets. The Malaysian government's Small Retailer Transformation Programme, launched in 2011, aimed to help traditional stores to evolve to keep up with rapidly changing consumer tastes, but has met with limited success.
In the wider retail market, the opening of large shopping malls has increased the lifestyle element of shopping in Malaysia, with retail concepts carefully chosen to appeal to specific consumer groups. The country has a very young customer base, and the demand for lifestyle products is high. Kuala Lumpur alone has around 70 shopping malls, and...
The Malaysia Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.
BMI's Malaysia Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.
- Benchmark BMI's independent retail industry forecasts for Malaysia to test other views - a key input for successful budgeting and strategic business planning in the Malaysian retail market.
- Target business opportunities and risks in Malaysia through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
BMI Industry View
Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.
BMI Industry Forecasts
There are four separate 5-year forecast modules in the retail reports. These are:
Headline Retail Forecast: Total Household Spending, (US$bn and local currency, % growth, % GDP, per capita, per household); Spending by Retail Sector for: food and non-alcoholic drink, alcoholic drink, clothing and footwear, housing and utilities, furnishings and home, health, transport, recreation, education, transport, restaurants and hotels, personal care and insurance (US$bn and local currency, % growth, % GDP, % of total spending)
Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tableware, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (US$bn, % Growth);
Household Income and Numbers Forecast: Number of Households (?000,% growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? US$5000+, US$10,000+ US$50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)
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