The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Malaysia's retail sector bore the brunt of the introduction of Goods and Sales Tax in 2015 and
we believe this, combined with external headwinds slowing down Malaysia's economy, will continue to
weigh on consumer demand throughout the rest of 2016 and into early 2017. Nonetheless, rapidly rising
household incomes, strong labour market as well as accommodative monetary policy will support sustained
expansion of the retail sector.
Latest Updates & Developments
? During 2016-2020, we forecast headline household spending to increase at an average rate of 8.4% per
annum, reaching a total figure of USD254bn.
? Rising from a low base, education will enjoy the strongest spending growth rate, forecast at 9.9%. On the
other side of the spectrum, housing and utilities will demonstrate the weakest growth figure, forecast at
7.3% during 2016-2020.
? During Q1 2016, total retail sales in Malaysia increased by 7.9% (year-on-year), led by food & drink and
recreation & culture categories, according to the Department of Statistics, Malaysia.