Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
Direct selling declined in terms of current value sales in Vietnam in 2023, with the drop driven by the continued fall of leading brands Herbalife Nutrition, New Image, and Amway as they struggled in the context of global inflationary pressures.…
Direct selling in Thailand continued to fall in terms of current value sales in 2023, in a persistent decline that began in 2020 and has not let up since. However, the rate of the drop was significantly slower than in the previous year of 2022. The…
Direct selling companies in Taiwan are undergoing a significant transformation as they adapt to the evolving retail landscape, with a notable trend being the embrace of digital transformation. Recognising the increasing prominence of e-commerce and…
2022 was a strong growth year for direct selling in Singapore, due to the resumption of events and pre-pandemic lifestyles, which made it easier for sales agents to conduct outreach and engagement activities. While the channel recorded a marginal…
2023 saw convenience stores in Vietnam continue to expand rapidly in terms of number of outlets, especially into urban areas, as local lifestyles became increasingly busy. Convenience stores resonate with Gen Z consumers and students, gaining…
Convenience stores in Thailand continued to recover and rise in 2023, with expansion in terms of outlet numbers a major driver. Rapid urbanisation, longer working hours, and declines in average household size boosted demand for smaller-format stores…
In 2023, convenience stores in Taiwan experienced expansion driven by various factors such as summer travels, festive seasons, typhoons, and back-to-school/work periods, all of which boosted demand for fresh food, coffee, packaged snacks, and…
The full recovery of convenience stores in Singapore, which dominates value sales and outlet numbers within convenience retailers, has been driven by the resumption of pre-pandemic lifestyles. Consumers have returned to schools and offices, as the…
2023 saw declines in demand for appliances and electronics specialists in Vietnam, with deep drops in current value sales as global economic uncertainty prompted consumers to adopt a more cautious approach towards their spending habits - particularly…
Current value sales in appliances and electronics specialists in Thailand continued their post-pandemic rebound in 2023. Over the end of 2022 and beginning of 2023, the Thai government introduced several stimulus measures, including the offer of cash…
Appliances and electronics specialists in Taiwan witnessed a fluctuating trajectory in 2023, shaped significantly by seasonal sales trends. While the pandemic-induced surge in demand for remote working and online schooling propelled sales of personal…
Albeit recording slower growth compared to the previous year, appliances and electronics specialists in Singapore experienced another positive performance in 2023. In February 2022, the local government announced that the prevailing rate of Goods and…
Apparel and footwear specialists in Vietnam remained significantly impacted by a range of negative factors throughout 2023, even though global inflationary pressures led the Vietnamese government to lower the tax rate to 8% from July until the year’s…
Overall current value sales rose in 2023 for apparel and footwear specialists in Thailand, partly benefitting from the continued post-pandemic rebound. Thailand is a difficult market for fast fashion players, however. Even before the pandemic,…
In 2023, the retail sales of apparel specialist retailers in Taiwan bounced back significantly. Following a double-digit growth rate in 2022, which surpassed the modest growth recorded in 2021, several major international brands displayed remarkable…
Apparel and footwear specialists in Singapore continued to record robust growth in 2023. This was largely driven by the full-scale resumption of social activities and international travel. 2023 witnessed a full year of the effects and benefits of…
Vending in the Philippines continued on its road to recovery in 2023, with healthy growth in current value terms. Sales were boosted an increase in mobility, including the return of Filipinos to their physical offices, which gave rise to more…
The number of vending machines increased in Malaysia in 2023, with several offering health supplements and others dispensing skin care products. There are even machines offering products as diverse as cacti and NFTs, suggesting that the novelty…
Despite ongoing competition from hypermarkets, supermarkets in the Philippines enjoyed positive gains in current value terms in 2023. Growth was boosted by the continued expansion of players such as SM Retail Inc, Robinsons and Puregold, which…
Like hypermarkets, the supermarkets channel struggled for growth during the pandemic as consumers adjusted their shopping behaviour. Due to the restrictions in place and the fear of contagion, alongside a shift to home working arrangements, many…
While modern grocery outlets such as supermarkets and convenience stores, recorded stronger current value growth than small local grocers in the Philippines in 2023, the accessibility and traditional appeal of sari-sari stores meant that they…
One of the most important pandemic-related impacts on small local grocers was the huge shift towards working from home. This deprived many operators of an extremely important consumer base of busy, urban professionals looking for a quick and easy…
Despite persisting inflationary pressures, retail in the Philippines recorded healthy growth in in current value terms in 2023, continuing the trend of the previous year. Sales were boosted an increase in mobility, including the return of Filipinos…
Following reopened borders and lifted restrictions in 2022, Malaysia's retail sector witnessed a surge in consumer revenge spending throughout the year. However, starting from the second quarter of 2023, the trend showed signs of decline as consumer…
While 2023 saw higher foot traffic in shopping malls and other physical retail locations. e-commerce continued see significant expansion in current value terms. Online marketplaces, such as Lazada, Shopee, and Zalora were instrumental to driving up…
Celebrating its first year in the Malaysian market, TikTok Shop has become the fastest-growing emerging e-commerce player in Southeast Asia, operating as an online marketplace within the TikTok video-sharing platform. The player attributes its…
Hypermarkets in the Philippines recorded positive growth in in current value terms in 2023, albeit at a slower rate than the previous year. Sales were boosted an increase in mobility, which was evidenced by higher foot traffic in mall-based and…
Hypermarkets was one of the retail channels hit hardest by the pandemic as demand for large-format modern grocery retailers plummeted. Quarantine lockdowns and restrictions on movement, combined with widespread fears of contagion, discouraged…
Home products specialists in the Philippines saw relatively modest growth in current value terms in 2023, compared to the previous year. This was due to persisting inflationary pressures, which placed a strain on household budgets, With many…
Mr DIY continued to expand aggressively in Malaysia in 2023, cementing its lead in a highly fragmented competitive landscape. The success of Mr DIY mainly lies in its ability to provide a large variety of good-value products under one roof, thereby…
Health and beauty specialists in the Philippines saw an improved performance in current value terms in 2023. Growth was boosted by an increase in mobility, including the return of consumers to their physical offices, which
Guardian continued to lead health and beauty specialists overall in 2023, as well as health and personal care stores, with Watsons as its closest competitor at number two in both cases. These players are key contributors to the segment’s growth in…
The general merchandise stores channel in the Philippines, which is dominated by department stores, saw buoyant growth in current value terms in 2023. An increase in mobility, including the return of consumers to their physical offices, contributed…
In line with global trends, department stores in Malaysia are losing appeal due to growing interest in fast-fashion retailers such as H&M, Zara, Uniqlo, and Padini which offer the latest fashions at relatively affordable prices. Small boutique stores…
2023 proved to be a challenging year for discounters in the Philippines, in light of a limited store count and fierce competition with other retailers. With the revival of hectic pre-pandemic lifestyles, including the return of consumers to their…
The leading chained players in discounters have been eyeing potential expansion opportunities in the wake of the COVID-19 pandemic, as the improved situation has made it easier for them to justify greater investment in outlet growth. Players have…
Following a three-year period of decline, direct selling in the Philippines registered modest growth in current value terms in 2023. The channel suffered losses during the pandemic, when agents were unable to sell to their customers on a face-to-face…
Direct selling in Malaysia showed resilience during the pandemic, particularly in the case of companies specialising in health and wellness products. Seeking ways to stay healthy, local consumers increasingly turned to health supplements and…
Convenience retailers in in the Philippines recorded a dynamic performance in current value terms in 2023, continuing the trend of the previous year. This was largely attributable to the aggressive activities of incumbent players, such as Philippine…
Social distancing measures remained in effect in Malaysia in 2021, with consumers forced to avoid spending time outside of the home wherever possible, and huge numbers of white-collar professionals, office workers and service industry personnel were…
2023 proved to be a positive year for appliances and electronics specialists in the Philippines, supported by increased foot traffic in shopping malls and other retail centres. There was also an improvement in consumer confidence, particularly during…
The pandemic lockdowns negatively affected some store-based appliances and electronics specialists. Nonetheless, with the lifting of restrictions and the reopening of international borders, sales benefited from the pent-up demand accumulated during…
Apparel and footwear specialists registered strong growth in current value terms in 2023. This was attributable to an increase in mobility, with consumers returning to their pre-pandemic shopping routines. The year also saw more consumers returning…
Reopened borders in 2022 and relaxed movement restrictions resulted in sharp rises in foot traffic in malls, boosted by locals and the return of international tourism. Festivities such as Hari Raya Aidilfitri and the widespread use of promotions…
Vending machines have a significant presence in Japan, and have been part of the local culture for decades. Vending is a contactless, unmanned, compact, and convenient way of shopping. Although sales declined during the pandemic, a rebound was seen…
In 2023, price rises were seen across various industries in Japan, impacting the cost of living. During COVID-19, consumers’ eating habits shifted more towards cooking and eating at home. Despite the country gradually returning to the pre-COVID-19…
Traditionally, Japanese consumers have enjoyed shopping in areas called Shotengai, where many small shops, including small local grocers, are lined up along the streets. Customers visit different specialist shops to buy their vegetables, fish, and…
Retail maintained solid current value growth in Japan in 2023, with increases across both offline and e-commerce. In 2023, offline retail regained stronger momentum due to the return of mobility post-COVID-19. On 8 May 2023, the Japanese government…
After e-commerce showed double-digit current value growth during COVID-19 in 2020, growth slowed significantly in 2021, and remained at this lower level in 2022 and 2023, as with the reopening of physical stores post-pandemic, fewer people made the…
Hypermarkets usually sell a wider range of products compared with other types of grocery retailers, such as supermarkets and convenience stores, but may not be as centrally positioned or as favoured for regular visits. Nevertheless, hypermarkets…