Malaysia is a home to 32 million people. According to the UNDP, Malaysia had a $27,227 GNI per capita in 2018. Consumer behavior in the country has been evolving. Although they are considered to be highly price-sensitive, domestic consumers are also brand-conscious and increasingly aware about quality.
Retail industry recorded a 4.5% growth rate y-o-y in retail sales in 2Q2019. Categories such as beauty and wellness have been seeing double-digit growth in recent years. However, the domestic retail industry experienced a growth slump of 1.8% in 3Q2019 and was below market expectations. The market performance is expected to be further supported by the growth of tourist arrivals spurred by the Visit Malaysia 2020 campaign.
Market Research Malaysia will help you to seize the opportunities in the market of consumer and retail across many areas, including digitalization, digital wallet, and marketplace as well as social networking service. Our expert team will guide you through the changing needs of buyers and win the market competition.