The Franchise International Malaysia 2014 conference explores Malaysia’s retail market

The retail and food & beverage (F&B) sectors contributed MYR 434 billion to Malaysia’s Gross Domestic Product (GDP) in 2013. In a bid to facilitate the contribution of franchising to retail growth, the Franchise International Malaysia 2014 Conference gathered industry professionals to share insights and explore opportunities within the local retail market.

Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, was amongst the guest speakers at the Franchise International Malaysia 2014 Conference held in Kuala Lumpur, Malaysia. In his presentation, Bahar emphasized the steady rise of Malaysia’s retail market.

Malaysia had seen impressive economic growth compared to its Asian neighbours; registering 6.2% real GDP growth in Q1 2014, while Thailand, Vietnam, Singapore and Indonesia reported -0.6%, 4.9%, 5.1% and 5.6% GDP growth respectively.

The retail sector had been a key contributor to this growth. The average Malaysian consumer still preferred to dine out which, together with tourist spending, caused F&B retail sales to hit MYR11.2 billion. In addition, the higher occupancy rate in retail space reflected rising demand for clothing and apparel retail. For instance, 44 million square feet was occupied in the Klang Valley alone in 2013.

Another driver of retail and F&B sales was tourism. Some 25 million tourists arrived in Malaysia annually. In 2014, the daily average foreign tourist spending was RM293 and RM172 on retail and F&B respectively.

Bahar projected that Malaysia’s retail sector would continue its forward momentum in the coming years. However, it remained to be seen whether this robust growth would outpace Malaysia’s Asian neighbours to enable it to become a regional hub for retail.

Jeffrey Bahar’s presentation deck on “Malaysia’s local retail market” can be found here.

https://www.spireresearch.com/newsroom/events/the-franchise-international-malaysia-2014-conference-explores-malaysias-retail-market/

Comments

Android market in India

- Saurabh Sharma, Country Manager, Spire Research and Consulting India can easily be considered as an Android country since 91% of its market share belongs to devices using Google’s mobile operating system. It is an open-source, Linux-based operating system designed specifically for smartphones and computer tablets. This facilitates easy accessibility for programmers to provide enhanced services as well as improve the core functionality of the device. According to statistics, the Android platform has breached 80% market share globally in the third quarter of 2013. With 40 million smartphones in the country, Indian users have an easy access to smartphones to stay connected online. With more consumers wanting to get their hands on smartphones and computer tablets, this has unsurprisingly pushed for the dominance of Androids across markets. Moreover, Androids is adopted by all major smartphone players in India – local players such as Karbonn and Micromax, as we...

FIFA World Cup 2018 holds lessons for successful team building

The FIFA World Cup 2018 is widely seen as one of the best World Cups in recent memory, with many surprises and goals aplenty. One talking point was the role of teamwork as opposed to just superstar talent. What lessons can businesses learn from the beautiful game? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 23 July 2018. As World Cup fever draws to an end, the game lived up to its hype with breath-taking goals and outstanding performances. Perera highlighted the role of 'team effort' over mere individual talent, which was evident in the early failure of teams with world-class superstars like Argentina and Portugal. Perera also pointed out the importance of investing in new talent pipeline development, which paid rich dividends for France, the winning team and also one of the youngest teams in the World Cup. The game also highlighted the role of risk-taking. A relentless approach t...

2022: Recovery or Resurgence?

The Covid-19 pandemic officially marks a grim second year this year. Nonetheless, there is some optimism among scientists that while the virus will become endemic, its threat to human life could reduce over time. In the first of a three-part Spirethoughts instalment examining analysts’ predictions for the new year ahead, we look at 3 economic and social trends that are likely to affect the global economy in 2022. Debt and inflation to grow . Global debt accelerated during the pandemic as governments continued to borrow. Twenty-five nations, including the US and China, now have total debt amounting to more than 300% of GDP, as central banks contribute to inflation by printing money, deepening the debt trap. Inflation, while on the rise, seems unlikely to hit the historic double-digit levels of the 1970s, as government spending should ease in 2022. Industries overheat amid global warming “greenflation”. The other continuing story with global imp...

Amazon enters the healthcare sector

Amazon is eyeing the healthcare sector. It has rolled out a line of private label, over-the-counter medicines along with medical supplies for hospitals, doctors and dentists. Whether it is selling prescription or generic drugs, Amazon seems poised to disrupt the healthcare industry. However, Amazon faces its own share of hurdles. It will need licenses from each state to be able to sell medical supplies. Medical practitioners may prefer to stay loyal existing sales channels. Waiting 24 to 48 hours for a pain or cold medicine means that customers may still run to the nearest pharmacy. Will Amazon disrupt the healthcare industry? Read more here: https://www.spireresearch.com/newsroom/spirethoughts/amazon-enters-the-healthcare-sector/

Asia-Pacific nations poised to sign the world’s largest multi-lateral trade agreement, RCEP, in 2020

After six years of negotiations, more than a dozen countries in the Asia-Pacific are poised to sign the world’s largest trade agreement, known as the Regional Comprehensive Partnership (RCEP), in 2020. This agreement would boost commerce among participating countries by lowering tariffs as well as standardizing customs rules and procedures. The RCEP will widen market access, especially for those countries that do not have existing many bilateral trade agreements in place. Will India pay a price for its decision to stay out of the RCEP? Read more: https://www.spireresearch.com/newsroom/spirethoughts/asia-pacific-nations-poised-to-sign-the-worlds-largest-multi-lateral-trade-agreement-rcep-in-2020/

The Knowledge to Decide

Search This Blog