VNExpress/CNA/Bloomberg-June 1
But more than affordability, what kept people coming back was the trust that the chain built within the communities it served. Eco-Shop is a household name for families, students, and anyone looking to stretch their tight budget.
“Being able to buy things in small quantities – dish wash, a few exercise books – makes some difference,” Azura Hanib, a 44-year-old mother of four, told CNA as she shopped with her 13-year-old daughter at her local Eco-Shop outlet.
“With how difficult life is, you really have to be mindful of every single cent.”
Launched in 2003 by Lee, his brother and another investor, the discount chain started as one store selling items for RM2 before growing into 100 outlets by 2018 and eventually 358 locations now. It posted a net profit of RM177 million on revenues of RM2.4 billion for the 2024 financial year, according to the company’s website. Though Eco-Shop holds a dominant position with nearly 70% share of Malaysia’s dollar store market, other players such as Ninso and Eko Jimat have also gained ground.Based on current trends, Malaysia’s dollar store market is projected to nearly double in size, reaching RM7.8 billion by 2029, according to the report.”These stores have proven to be recession-proof, offering affordable options during economic downturns and high inflation rates,” Frost & Sullivan remarked. Read more at:
