Malaysian retail on the recovery track
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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.
Questions & Answers
Q.What is the government's projection for the recovery of Malaysia's retail sector this year?
What is the government's projection for the recovery of Malaysia's retail sector this year?
The Malaysian government anticipates the retail sector will achieve 80 percent recovery this year. This is an improvement from the current 70 percent recovery level reported.
Q.How has the unemployment rate changed in Malaysia since the lifting of the movement control order?
How has the unemployment rate changed in Malaysia since the lifting of the movement control order?
The unemployment rate in Malaysia dropped by a record 5.3 percent month on month in May. It has recently improved further, now standing at 4.9 percent.
Q.What is the current level of mall footfall compared to pre-pandemic times?
What is the current level of mall footfall compared to pre-pandemic times?
Mall footfall in Malaysia has reached 80 percent of the levels recorded before the coronavirus outbreak. Consequently, 90 to 95 percent of mall retailers have reopened.
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