Chapter 5Navigating the future
The outlook for FMCG in Malaysia looks positive for the year ahead – but shoppers will still spend carefully.
The final piece of the puzzle to craft winning strategies for your brand is to look forward. This is a crucial step for brands if they are to be agile in dealing with market volatility. For this, we lean on Worldpanel’s proprietary forecasting tool, which leverages a host of Kantar Worldpanel and external data sets for training:
Actual Consumer Purchase Data
Government Inflation Rates
Consumer Spending Census
Government GDP Growth Rates
Consumer Confidence Indexes.
The tool is predicting a marginal growth for total in-home FMCG of +2.3% for FY2023. This comes after a slight normalisation of FMCG sales in 2022 after two years of continual growth.
The growth forecast for 2023 is expected to be enjoyed within the first half of the year, with festive seasonality purchases recovering, continuing the upward trajectory which started in Q4 of 2022. This trend will be seen primarily within the beverage sector, while packaged groceries are also expected to grow following a year of normalisation. Non-food categories are also expected to continue their post-pandemic year-on-year growth
