PETALING JAYA: Although the property retail scene will remain challenging in the next couple of years as a result of rising retail space and the competition brought about by e-commerce, the retail sector will continue to grow, albeit at a much slower pace, backed by more “targeted valued content and offerings” using different delivery channels.
Piecing together a 2018 first quarter report from property consultancy Nawawi Tie Leung and two presentations made by Savills Malaysia deputy executive chairman Allan Soo and Retail Group Malaysia managing director Tan Hai Hsin last Thursday, the overall consensus was that the retail sector would continue to grow, brought about by new entrants replacing those who have left, with departmental stores closing unprofitable outlets and retailers downsizing or leaving altogether and new entrants taking their place.
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