E-Book: The global retail industry is undergoing a period of profound change. Challenged first-and-foremost by the growth of e-commerce, now worth over 10% of global retail sales, brick-and-mortar retailers are having to work harder and smarter just to retain their place in the market. The fate of globally recognised brands like RadioShack and Toys R’ Us are clear examples from 2017 alone of what happens if you do not evolve.
For many, Asia is seen as a beacon of hope for the future of the retail industry. Driven by the remarkable growth of the Asian middle class, set to total 4.9 billion people by 2030, growth statistics across retail formats in emerging markets has done a great deal to allay fears over the stalled growth in more traditional, established markets like Singapore and Hong Kong.
A cursory look at predicted retail growth figures from across some key Asian markets should make even the most digitally minded, e-commerce centric professionals sit up and take notice:
India: 16% Compound Annual Growth Rate (CAGR)
China: 10% CAGR
Indonesia: 14% CAGR
Philippines: 8.3% CAGR
Thailand: 6% CAGR
These numbers compare favourably when held up against the likes of the USA (3.0%), the UK (2.9% CAGR) and Germany (2.3%).
We’ve been bringing Asian retailers together for years at our annual Seamless Asia event. Ahead of the 2018 edition of the show we’ve put a list of 200 retailers who are driving the impressive growth demonstrated in the figures above. These retailers are split across countries and across categories, including:
- Convenience Retail
- Department Stores
- Electronics & Home Retail
- Fashion & Jewellery
- Health & Beauty
- Mall Operators
- Variety Stores
The list features a mix of leading retailers and interesting disruptors. It is certainly not definitive, and we’d love to hear who would make your list in the comments below.
Once you’ve read through the e-book, check out the Seamless Asia website and discover how much you could learn by attending the show on 3rd-4th May next year in Singapore.