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KUALA LUMPUR (Nov 27): The Malaysian Retail Chain Association says its members posted an average year-on-year revenue growth of 5.7% in the third quarter of this year (3Q18), and expects growth to rise further in the final quarter of the year to 6.1%.
At the association’s Quarterly Retail Association Sales Survey briefing, the group announced 59 brands, constituting 2,226 stores, participated in the survey.
According to MRCA vice-president Datuk Liew Bin, this constitutes 10% of the association’s members, with plans to expand the sample size for next quarter’s survey.
The association highlighted the food & beverage (F&B) and health and beauty’s strong growth in sales during the quarter. F&B recorded a y-o-y sales growth of 5.4% in 3Q18, versus the 1.8% in 2Q18, while health and beauty sales jumped 21.3% in 3Q18, versus the 8.2% growth seen in 2Q18.
The survey also found online sales constituted an average 3.9% of its respondents' revenue in 3Q, and the percentage is expected to rise to 5% in the coming year, as more users are anticipated to turn to online shopping.
Liew Bin also said those polled are expecting an average sales growth of 4.9% this year, which commensurates with the government's forecast of a 4.8% GDP growth for the year. — theedgemarkets.com
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