Shopping malls see robust sales growth

[nazrey]

Shopping malls see robust sales growth
By Vasantha Ganesan
September 19 2007
BusinessTimes

There has been a five to 10 per cent improvement in in local patronage at the mall as well as in their spending power, says Malaysian Association for Shopping and Highrise Complex Management

SHOPPING complexes in Malaysia are expecting robust growth this year with tenants chalking up between 10 and 15 per cent growth.

"Up until July 2007, shopping complexes said that sales of tenants within the mall have grown by 10 per cent and up to a maximum of 15 per cent," Malaysian Association for Shopping and Highrise Complex Management president Joyce Yap told Business Times.

"Achieving this growth for entire of 2007 should not be a problem given that sales are generally stronger towards the year-end," she added.

Shopping will be strong for the festive season beginning now for Hari Raya, Deepavali and until December for Christmas. In addition, there would be the school holiday shopping and back-to-school shopping activities in November and December.

According to Yap, previously, domestic spending accounted for between 75 per cent and 80 per cent of total sales while tourists made up the rest.

However, this year there seems a vibrant domestic spending trend. This is despite the increase in tourist arrivals, who generally spend three to four times more than a local shopper.

"There has been a five to 10 per cent improvement in in local patronage at the mall as well as in their spending power," Yap said.