Eco-Shop Marketing Bhd will expand its business organization by opening around 70 new branches every year to drive market penetration.
RHB Investment Bank Bhd announced that the opening of the discount store’s new branches will be supported by increased capacity in distribution processing.
RHB Bhd said the robust growth in the network will enable the group to capitalize on the rapid industry growth, thus strengthening Eco-Shop’s position in the market against new competitors.
The investment bank also described the discount store industry as continuing to grow rapidly due to the increase in market penetration to meet the growing demand.
According to Frost and Sullivan data, the industry is expected to record a 14% growth rate from 2024 to 2029, surpassing the 6% growth rate for overall store-based retail sales.
This situation is likely to encourage consumers to choose stores with lower prices and affordable prices due to the current inflationary situation.
