The Emerging New Retail Formats

In Malaysia, retail industry shows a rapid growth especially in contributing income for our economics trend. Thus, retail industry will be more develop by apply it to the latest savvy-technology besides it can enhance our income moreover to the organization who involved directly to retails. Nowadays, retail business has been changed with the emerging of new retail format which match to the technology such as e-tailing – using internet application.

Most of us often describe retailing as a retail store or mini market while definitely the retail itself define widely because of the activity which include all types of goods or services. Normally, retailing begins with small business and slowly transform to corporate business or big business. It offers a variety of things such as clothes, foods, accessories, services and so on.

Retailing plays as important elements in distribution system which distributes the goods or services among supplier or customer. Despite of retailing, consumer unable to benefits their goods or services, while the supplier will facing some problems to market the goods or services. However, in supply chain management the supplier could become a retailer to the customer if they do not have a supplier and retailer to market their goods and services.

Retailing system supplies vary of goods and services to satisfy their customer. It is all about desire and needs in social life. While customers need the utility in their life, they have to deal with the retailers because sometimes they do know what the customers needs. There are large numbers of retailers in Malaysia which we can see too many retail store with a various size. According to Euro monitor International, retailing sector has been contribute more than 13 percent of Gross Net Profit (GNP), employs to 730,000 people in 2003.

Although Malaysia is still dominated by small traditional convenience and neighborhood stores, the solid economic growth has encouraged local and international retailers to introduce Western-style convenience store, supermarkets, department stores, hypermarkets and warehouse clubs such as Tesco and Giant. In order to stay competitively in the retail markets, all the retailers have no choice by altering their formats with a retailing trend. The retailing sector in Malaysia continues to evolve in economics challenges in order to survive in retails competitive environments.