The new Malaysian Government reversed the Goods and Service Tax (GST) and the 3-month tax holidays significantly boosted apparel and footwear specialist retailers for the rebound of retail sales growth in 2018. Apparel and footwear is one of the largest retail channels for consumer spending, and Malays took advantage to on shopping sprees during the tax break.
Malaysian consumers are becoming increasingly comfortable with buying fashion online. Apparel and footwear specialist retailers is a highly saturated channel in Malaysia.
Current value growth over the forecast period will be stable although not as impressive as over the review period as fashion retail has become highly influenced by digital online shopping trends and social media. Online fashion marketplaces such as Zalora and FashionValet are popular sites, and in Malaysia, there are online fashion boutiques emerging that offer free shipping delivery, low prices guaranteed and promotions, as well as constant updates on new collections on social media.
Domestic player Padini Holdings retained its leadership of apparel and footwear specialist retailers in 2018 with low value share due to a highly fragmented competitive landscape in Malaysia. The company’s position can be largely attributed to its affordable prices, its specialisation in the retail of menswear, womenswear, childrenswear, apparel accessories, footwear and hosiery amongst its many brands that include Vincci, Seed, Padini Authentics, PDI, Padini, Miki Kids and Brands Outlet.
The Japanese fashion label Uniqlo experienced rising popularity amongst Malaysian consumers and registered strong year-on-year growth during the review period. Uniqlo operated 47 outlets in 2018, since entering Malaysia with its first store in 2010.
Competition in apparel and footwear specialist retailers in Malaysia remained intense in 2018, with a large number of local and multinational players present. Local operators such as Padini, Anakku and Polo Haus sought to attract consumers by offering products at more affordable prices, while international brands such as H&M, Bata, Uniqlo and Cotton On competed on their strong global reputations.
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This industry report originates from Passport, our Retailing market research database.