In 2018, home and garden in Malaysia continued to record a solid performance, registering positive current value growth in all categories. A strong consumer sentiment index (CSI), which hit a 21-year high of 132.
The abolition of GST in Malaysia in June 2018 and rising consumer confidence both helped fuel the growth of home furnishings. Consumers took advantage of a three-month tax holiday to purchase items such as furniture and homewares at cheaper prices.
International companies continued to lead the fragmented home and garden competitive landscape in 2018. Ikano Corp remained the leading player overall thanks to an extensive range of products all offered under one roof.
Even though internet retailing as a whole in Malaysia has been on the rise, when it comes to home and garden the majority of consumers continue to prefer physical stores so they can see and touch these products for themselves. Home and garden specialist retailers thus remained the go-to channel for Malaysians in 2018 thanks to being both easily accessible and offering a wide range of products under one roof.
The outlook for home and garden over the forecast period remains promising as a result of rising consumer confidence and the mushrooming of township developments across major states in the country. Increasing home ownership will bring opportunities for home and garden players as new homeowners seek to renovate, furnish and decorate their houses.
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This industry report originates from Passport, our DIY and Gardening market research database.