Malaysian retail on the recovery track

Malaysia’s retail sector is projected by the government to reach 80-per-cent recovery this year, up from the current 70 percent.

Statistics department figures showed improved employment numbers during the recent period since the lifting of Malaysia’s movement control order to counter Covid-19. The country’s unemployment rate was down by a record 5.3 percent month on month during May, but was recently measured at an improved 4.9 percent.

“Subject to the second lockdown, the [retail] sector will be normalized, with local consumption to be the growth driver for the country,” said Minister Datuk Seri Mustapa Mohamed following a private conference with retailers. The Edge reports he also urged Malaysians to support home-grown products.

Around 90–95 percent of mall retailers are back in business within the country, as mall footfall hit 80 percent of levels recorded prior to the coronavirus outbreak.