New large shopping malls attest to Malaysia’s economic growth. The country fared better than its neighboring countries. The Malaysian consumer’s shopping lifestyle is changing. They are more sophisticated. Consumers are growing more confident with spending.
Consumer expenditure reached MYR 530.6 billion in 2013. The projected retail sales in 2016 will amount to $124.55 billion U.S.
The Malaysia Retail Industry Report said that retail sales grew 4.6% in 2015.
The economic growth was driven by large shopping malls. Majority of consumers have developed a taste of premium goods. They are willing to spend to show status or wealth.
Learn more about Malaysian Consumers
International Retailers in Malaysia
International retailers in Malaysia are very aggressive. They recognize Malaysia’s potential as a target market.
Majority of Malaysians have become sophisticated in their choices. Younger customers are confident in spending.
Consumers are starting to look at brands. They prefer product quality over price. Unique designs are also important.
Localization for the Malaysian Market
In physical stores, Malaysians enjoy the personalized service. It creates brand loyalty as well.
Even online stores should be localized to the Malaysian market. It increases customer acquisition.
Localization of marketing materials increases the chances of connecting with the consumers. It will help make the product and brand stand out.
It is very attractive for consumers. It makes it easier for the consumers to learn about the product.
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