MRCA, DOSM Team Up To Enhance Retail Sector Data Analysis

PUTRAJAYA, March 7 (Bernama) -- The Malaysia Retail Chain Association (MRCA) and the Department of Statistics Malaysia (DoSM) are collaborating to enhance data collection and analysis within the retail sector.

During a recent meeting, both parties discussed the implementation of a comprehensive survey, focusing on key areas of the retail industry such as brick-and-mortar retail, food and beverage, e-commerce, and franchise development.

Leveraging MRCA’s network of over 500 members, the survey aims to provide a detailed, segmented view of retail industry dynamics, empowering businesses with accurate data that facilitates strategic decision-making and growth planning, the MRCA said in a statement today.

“Access to precise and timely data is essential for businesses to navigate market shifts effectively, and the collaboration with DoSM marks a milestone in equipping industry players with the right insights for sustainable growth,” said MRCA deputy president Datuk Liew Bin.

Echoing the sentiment, DoSM chief statistician Datuk Seri Dr. Mohd Uzir Mahidin highlighted the importance of data in national development.

"Reliable and specific data forms the foundation of a nation’s economic progress. Strengthening our collaboration with MRCA will help us create a more detailed and actionable statistical framework for the retail sector," he said.

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One anticipated benefit of this enhanced data collaboration is boosting participation in major industry events like the Franchise Expo Malaysia (FEM), to be held Aug 21-23 at the Kuala Lumpur Convention Centre.

The event is seen as a vital platform for networking and knowledge-sharing among franchise leaders, investors, and policymakers.

Moving forward, both MRCA and DoSM will continue to refine survey methodologies and adapt strategies based on initial findings from the survey.

This ongoing engagement aligns with the National Development Policy (NDP) and underscores a shared commitment to continuous improvement and innovation in Malaysia’s retail sector.

“By refining data collection methodologies and aligning efforts with the NDP, this collaboration can deliver long-term benefits, including more comprehensive policy formulation, enhanced business support, and a more rapidly developing retail ecosystem,” it added.

-- BERNAMA