The big news in home and garden specialist retailers in Malaysia in 2021 was the late 2020 IPO of the parent company of category leader Mr DIY. The retailers leadership of home and garden specialist retailers can be attributed mainly to its aggressive and ambitious expansion plans, which saw the number of stores operated under the chain increase by more than fourfold over the course of the review period.
2021 saw Fella Design remain the leading player in homewares and home furnishing stores in terms of the number of outlets, despite the closure of three of its stores in Malaysia over the course of the year. The main reason for the closure of these outlets was that they had proven unviable during the COVID-19 pandemic, with company taking the difficult decision to close them permanently in order to manage the challenging situation that found itself in as outlets were required to remain closed for two months of 2021 as part of measures designed to curb the spread of the COVID-19 virus among the Malaysian population during the lockdown.
IKEA remains the leading name in homewares and home furnishing stores in value terms and this strong position can be attributed mainly to the appeal that the company’s minimalist design aesthetic holds for younger consumers. The company’s iconic catalogue has long been a source of interior design inspiration for Malaysian young urban professionals, with the excellent value for money that IKEA’s flat-pack furniture represents making it a very popular option among younger people and price-conscious consumers of all ages.
Following the late 2020 IPO of its parent company, category leader Mr DIY is set to continue pursuing an aggressive and ambitious expansion and growth strategy over the forecast period. While there are already 875 Mr DIY stores currently in operation in Malaysia, the retailer has plans to open even more stores under the Mr DIY banner during the forecast period.
The importance of e-commerce for the Malaysian retailing industry is expected to increase further over the forecast period, with all of the leading players in home and garden specialist retailers expected to continue building their online presence in an effort to capture rising demand for online retailing. However, e-commerce is unlikely to become as influential in home and garden specialist retailers as it is expected to become in other retailing categories and this is a reflection of the unique status that most homewares and home and garden products have for many consumers.
Home improvement and gardening stores is expected to become a much more competitive retailing category over the forecast period as consumers increasingly prefer e-commerce, which is set to result in pressure on store-based sales for all category players. Within this context, smaller home improvement stores can be expected continue to face the strong pressure and the stiffest competition as major players such as Mr DIY continue to expand their chains throughout the country.
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Understand the latest market trends and future growth opportunities for the Home and Garden Specialist Retailers industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Home and Garden Specialist Retailers
This is the aggregation of homewares and home furnishing stores and home improvement and gardening stores. Business-to-business sales are excluded.See All of Our Definitions
This report originates from Passport, our Home and Garden Specialist Retailers research and analysis database.
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