Malaysian retail sales plunge 32.5 percent in April
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Malaysian retail trade sales plunged 32.5 percent year on year in April, according to the Department of Statistics Malaysia (DoSM).
The significant decline occurred as many retailers were heavily affected by the imposition of the Movement Control Order.
Retail sectors contributing to the negative growth included consumer goods in specialist stores, cultural & recreational goods, and household equipment.
Sales of food and beverage rose by a modest 1.9 percent, which is less than in some other Southeast Asian markets during the Covid-19-related lockdowns and temporary store closures
Despite the dramatic fall, Malaysian retail sales online in April saw 28.9-per-cent growth year on year, as consumers moved online unable to visit physical stores.
Questions & Answers
Q.What was the main reason for the significant decline in retail sales during April?
What was the main reason for the significant decline in retail sales during April?
The substantial drop in retail sales was primarily due to the Movement Control Order, which severely impacted many retailers. This order likely restricted operations and customer movement, leading to reduced physical store sales.
Q.Which specific retail sectors experienced negative growth in April?
Which specific retail sectors experienced negative growth in April?
Sectors contributing to the negative growth included consumer goods sold in specialist stores, cultural and recreational goods, and household equipment. These categories saw significant declines during the period.
Q.Did any retail categories manage to grow during April, despite the overall decline?
Did any retail categories manage to grow during April, despite the overall decline?
Yes, sales of food and beverage rose by a modest 1.9 percent in April. This growth was, however, less substantial than that observed in some other Southeast Asian markets during their respective lockdowns.
Q.How did online retail sales perform in Malaysia during April?
How did online retail sales perform in Malaysia during April?
Despite the dramatic overall fall in retail sales, Malaysian online retail sales saw significant growth, increasing by 28.9 percent year on year. This was driven by consumers shifting to online purchasing due to inability to visit physical stores.
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