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Malaysian retail on recovery road

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

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 per cent month on month during May, but was recently measured at an improved 4.9 per cent.

“Subject to the second lockdown, the [retail] sector will be normalised, 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 per cent of mall retailers are back in business within the country, as mall footfall hit 80 per cent of levels recorded prior to the coronavirus outbreak.

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