strategic brand managemnt AEON
Introduction
BUSINESS INDUSTRY OVERVIEW
The size of the retail industry in Malaysia is big in size as it covers most shops and markets. Malaysia is quite a big country with a sizeable population that forms the perfect customer base that supports business industry. The industry is categorised according to the size, location and the types of products offered. According to size, there are convenient stores, shops, supermarkets and hypermarkets. Location wise, there are retail outlets and departmental stores, whereas according to products, there are those which are specialised in clothes and apparels, household stuff , appliances or even shops that sell a combination of both.
The market is segmented according to the types of consumers prevailing in the society. Malaysia is a cross culture society that harbours a wide variety of ethnicities. The demographics of Malaysia consist of all genders and age groups. Hence, with an extensive variety of the cultures, the retail business offers a wide variety to meet the demands of the customers with these backgrounds.
This industry is performing quite well and has a bright future after the announcement of this year 2014 as a year of tourism, hence there will be an influx of tourist and hence the demand of products may considerably rise. Moreover, the postponement of the introduction of the Goods and Sales Tax (GST) in this year has allowed the retail business to flourish and establish strategies of maintaining the customers after its introduction in 2015.
This industry is influenced by the various trends that arise and phase out in the customers. Hence, it is important for the retail businesses to adopt and maintain a customer centric approach that fosters customer loyalty. Customer loyalty is a strong value that is appreciated by this industry as it propels the need for retail businesses to generate value added services and products.
The key players in this industry, to mention but a few are 7Eleven, KK, 99, AEON, TESCO
BUSINESS INDUSTRY OVERVIEW
The size of the retail industry in Malaysia is big in size as it covers most shops and markets. Malaysia is quite a big country with a sizeable population that forms the perfect customer base that supports business industry. The industry is categorised according to the size, location and the types of products offered. According to size, there are convenient stores, shops, supermarkets and hypermarkets. Location wise, there are retail outlets and departmental stores, whereas according to products, there are those which are specialised in clothes and apparels, household stuff , appliances or even shops that sell a combination of both.
The market is segmented according to the types of consumers prevailing in the society. Malaysia is a cross culture society that harbours a wide variety of ethnicities. The demographics of Malaysia consist of all genders and age groups. Hence, with an extensive variety of the cultures, the retail business offers a wide variety to meet the demands of the customers with these backgrounds.
This industry is performing quite well and has a bright future after the announcement of this year 2014 as a year of tourism, hence there will be an influx of tourist and hence the demand of products may considerably rise. Moreover, the postponement of the introduction of the Goods and Sales Tax (GST) in this year has allowed the retail business to flourish and establish strategies of maintaining the customers after its introduction in 2015.
This industry is influenced by the various trends that arise and phase out in the customers. Hence, it is important for the retail businesses to adopt and maintain a customer centric approach that fosters customer loyalty. Customer loyalty is a strong value that is appreciated by this industry as it propels the need for retail businesses to generate value added services and products.
The key players in this industry, to mention but a few are 7Eleven, KK, 99, AEON, TESCO