“The closure is not expected to be worsened than this year, unless a recession occurred next year.” -Tan Hai Hsin
“They expanded aggressively throughout the country during the 2000s. With the current economic condition that has not improved until now, it is not a surprise for them to close under-performing stores, ” he said.
On whether Malaysian consumers are turning to mini-markets instead of seeking bargains at hyper- and supermarkets, Tan said.“Based on our observation, they are shopping lesser in hypermarket and buying more often in mini-market, ” he said. This format became very popular among Malaysian families because it was able to offer wide variety of goods under one roof.
“In recent years, however, we believe Malaysian families are tired of spending hours in hypermarkets for basic necessities.
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