When faced with sudden and significant change, Malaysians are well-known for responding with resilience and resourcefulness. These qualities have certainly been put to the test during the pandemic. People turned to ecommerce platforms to create businesses and sell products from home, while food and beverage businesses turned to delivery platforms at a higher rate than anywhere else in APAC. Similarly, consumers embraced new ways to shop online, pay with digital wallets, and use ecommerce apps more than most markets included in our global study.
Having adjusted through this turbulent period, Malaysians are now ready for the next phase while setting ambitions for what lies ahead. For businesses, these ambitions might be in the form of improving customer experience, championing sustainable practices, or expanding into new markets.
The Malaysian Retail Report 2022 asked over 10,000 businesses from 23 markets, including 500 from Malaysia, to detail their concerns, aspirations, strategies, and investments for 2022 and beyond. These insights and recommendations are provided to help businesses shape, grow, and realize their ambitions.
The pandemic has given businesses and consumers a real taste for technology. Technological investments can future-proof businesses, whether it’s adding digital capabilities to existing services and products or building completely new digital processes. To grasp long-term sustainable growth, retailers need to make the right investments that will keep customers at the heart of business decisions.”
Head of Technology Consulting
KPMG in Malaysia
Malaysian businesses have proven their resilience and adaptability during the pandemic, and their future is bright. Malaysian consumers’ love for tech-enabled, seamless shopping experiences stands out on a global level and the time is ripe for retailers to capitalise on the RM334 billion opportunity in digital transformation. Many retail players have unlocked the promise of unified commerce as a strategic growth driver.
Head of Commercial, Southeast Asia & Hong Kong
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Facebook, Uber, H&M, eBay, and Microsoft.