9 Key Trends and
Developments
Asia Retail:
- Illustrated with cases and
observations
March 2017
Asia Distribution and Retail
Contents
#1 Towards a new era of consumerism
#2 Riding the waves of e-commerce and m-commerce
#3 Social media increasingly become a key marketing and selling tool
#4 O2O becoming mainstream
#5 Technologies exert huge impact on Asia retail
#6 Shifting from consumption to experience
#7 Explore new business models, reinvent business to capture opportunities
#8 M&A: An opportune avenue fueling growth
#9 Duty-free business sees robust growth in Asia
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Key macroeconomic indicators of selected Asian economies
Retail sales and Internet sales of selected Asian economies
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Understanding Asia retail :
9 major trends to watch out in 2017Key takeaways
Nowadays, consumers, not companies, are driving business decisions. Asia’s consumer market is
and will continue to be driven by preferences of the rising middle class, particularly the growing
influential younger consumers – millennials in the region. Consumers are now more connected,
digital-savvy, mobile and socially fluid. They demand personal products and services, look for
greater satisfaction in life experience and have a strong desire for convenience and immediacy.
Lured by the rosy prospects of the thriving e-commerce market, both traditional retailers and e-
commerce players have stepped up their online expansion, reaching out to more customers in Asia
via e-commerce platforms. B2C marketplaces, in particular, have seen rapidly development over
recent years. In many Asian countries, with m-commerce getting more popular among online
shoppers, the move towards a cashless society is gaining steam. Some retailers have also
partnered with payment service providers to offer electronic payment services and mobile wallets
to provide their online customers a frictionless payment experience.
Driven by accelerated smartphone penetration and increased amount time consumers spent
online, the number of social media users has increased drastically in Asia. The social media
boom has underpinned the growth of social commerce in the region, especially in Southeast
Asia. Social commerce currently takes up a third of all online shopping transactions the
Southeast Asian region.
Understanding Asia retail :
9 major trends to watch out in 2017 (Cont’d)Key takeaways
The rise of e-commerce has changed the way consumers shop, making O2O retailing a key tenet of
retailers’ marketing strategies. To adapt to consumers’ increasingly complex shopping journey –
weaving across physical and digital channels, retailers are striving to push forward seamless
integrations between their physical stores and online marketplaces, along with new delivery
options as a way to offer customers seamless O2O shopping experience with greater convenience,
accessibility and transparency.
To reach out to tech-savvy shoppers and satisfy forward-thinking digital-based demands, many
retailers have embraced advanced technologies and improved customer engagement using digital
tools such as gamification and virtual reality/ augmented reality, aligning their businesses with
the needs of the evolving customers.
The concept of “experiential shopping” has garnered significant attention in Asia’s retail market.
When it comes to shopping, consumers in Asia are more sophisticated and increasingly looking for
additional value – exceptional services and personalized experiences. This changing lifestyle habit
and demand for experiential elements have prompted retailers to create an “experiential
shopping” environment so as to enlighten consumers with immersive shopping experiences and
services.
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