Weaker Shopping Data Expected Due To Cost Of Living Crisis

Tan Hai Hsin, Managing Director, Malaysian Retail Group

06-Dec-23 07:30

Weaker Shopping Data Expected Due To Cost Of Living Crisis

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Shopping traffic has returned back to pre-Covid levels. Lines are forming outside popular stores but their purchasing power is weakened by the cost of living crisis. The Retail Group Malaysia has lowered its retail sales growth rate estimate for the fourth quarter of 2023 to 2.1%. This is down from the 3% the group had estimated back in September. Tan Hai Hsin, Managing Director of Retail Group Malaysia shares with us his views about the retail sector.

Image credit: Shutterstock.com

Produced by: Chin Wai Lun

Presented by: Wong Shou Ning, Keith Kam, Anwar Mahbob

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Categories: economy, Corporates

Tags: retail group malaysia, malaysia third quarter results,

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