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Pure-play retailers that mainly promote online, had enjoyed a spike in their companies through the lockdowns but saw transactions fall by 20% to 90% after that. Physical shops that offered virtual shopping through the lockdowns had seen a 70% to 80% drop in business since early 2022; online business at food and beverage (F&B) retailers had fallen by 50% to 60%. WHILE organisations nonetheless see good response in online purchasing, retail association Retail Group Malaysia has witnessed a 20% to 90% drop in online shopping actions, following the Covid-19 lockdowns. Pure-play retailers that primarily sell online, had loved a spike of their businesses in the course of the lockdowns but saw transactions fall by 20% to 90% after that, said RGM managing director Tan Hai Hsin. UK retailers had a happier Christmas than expected, but shoppers are altering how they shop due to the rising value of living.
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