Retail market analysis.

The Malaysian retail industry is expected to grow from US$84.63 billion in 2023 to US$112.93 billion in 2028, with a compound annual growth rate of 5.94% during the forecast period (2023-2028). Over the past few decades, Malaysia's retail industry has been one of the largest contributors to the country's GDP. Several national and international brands have been operating in the country with extensive retail outlets across the country. Despite the opening of several new stores and extensive store network, the retail industry was slow during the study period, and the retail industry declined sharply in 2020 due to the popularity of COVID-19. The Movement Control Order (MCO) restricted public movement and the lockdown originally scheduled to last two weeks in March 2020 was extended to mid-May 2020, resulting in a sudden decline in the total revenue generated by the retail industry. The industry contracted about 16% in 2020. Some retail segments recorded good contracts, including double-digit contractions in 2020, including clothing, footwear, fashion accessories and more. Likewise, total sales in one of the largest distribution channel segments, like hypermarkets, supermarkets and convenience stores, also declined.

Malaysia's retail market leader ((1)B.I.G. Store Sdn Bhd 、(2)7-Eleven 、(3)MJ Department Stores Sdn Bhd (4)Tesco、(5)AEON CO (M) Bhd 

Malaysia's offline retail formats are generally divided into hypermarkets, supermarkets, convenience stores, other modern retail channels and traditional channels. According to statistics in 2021, the penetration rate of Malaysia's modern retail channel has reached 50%, ranking third in ASEAN after Singapore (81%) and Philippines (75%). Among them, convenience stores account for 18%, hypermarkets 16%, supermarkets 11%, and other modern retail channels 4%.
 

Analysis of the Chinese market.

Malaysia is a multiracial and cultural country. According to information from the Overseas Chinese Affairs Council, there are about 6.7 million Chinese citizens in Malaysia, accounting for about 22.8% of the country's citizen population, making them the second largest ethnic group in the country.
 

Commonly used payments.

In recent years, the Malay government has continued to promote the transformation of the public and retailers, supporting e-wallets and advocating a cashless society. In Malaysia, the penetration rate of online payment has reached 85%. Commonly used digital payment methods in Malaysia include: Vcash, Samsung Pay, Alipay, WeChat, Visa Checkout, CIMB Pay, PayPal, MOLPay, GrabPay, GrabPay