How the retail industry is rebounding from Covid-19

The Covid-19 crisis has put the retail industry in limbo, affecting businesses ranging from food and beverage to services.

According to global market research platform Ipsos Sdn Bhd, almost half of Malaysians have increased online purchases during the pandemic, especially for food and grocery deliveries. Nevertheless, Chan said the challenge is the capacity reduction and, in certain cases, content for cinemas. Secret Recipe Group business development director Patrick Sim Chee Hong noted that due to stringent SOPs, its F&B outlets are losing customers due to limited seating.

“This is within a controlled and healthy level for our malls. We are forecasting a recovery of 75% to 85% in footfall by end-2020, and tenants’ sales are projected to recover by 50% to 60%. However, according to Fakru, the retail industry was experiencing tough times even before Covid-19, particularly its physical stores.

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