Anders Peter Juel Sauerberg’s Post

🇻🇳 Up-and-coming 🛒 🛍️ #Vietnam’s retail revenue has increased tenfold over the past decade, but its share of the total market lags behind its neighbors, according to an industry expert. 🗣️ The comment was made by Nguyen Anh Duc, chairman of the Vietnam Retailers Association, at the 2024 regional conference of the International Cooperative Alliance (ICA), held from May 21 to 23 in Ho Chi Minh City. 🗓️ Over the past ten years, Vietnam’s modern retail sales have increased tenfold to US$26 billion from $2.6 billion, but its modern retail market share only accounts for about 22 percent of the total market, compared to the 90, 65, and 40 percent in Singapore, Thailand and Malaysia, respectively, Duc elaborated. 💭 “In general, Vietnam’s modern retail is growing but still lags behind other countries,” the expert commented. Still, the future looks bright for the sector, with Vietnamese retailers focusing on developing new products and taking advantage of e-commerce platforms to diversify sales channels and boost revenue generation. 💹 Reports show that 30 percent of the revenue of the world's top 500 companies comes from new products, while the rate is 20 percent in Asia and only 10 percent in Vietnam, the expert explained, adding that Vietnamese retailers should put a heavy focus on introducing new products to the market. https://lnkd.in/giDaka2Z

How South Asian Central is Revolutionizing Retail for South Asian Businesses. South Asian Central one of the fastest-growing eCommerce platforms in the USA & Canada is enabling South Asian retailers to transition to eCommerce sales. How South Asian Central is Revolutionizing Retail for South Asian Businesses” — CEO-South Asian Central ROCKVILLE, MD, UNITED STATES, November 21, 2024 - South Asian Central Expands Across USA and Canada: Revolutionizing eCommerce for South Asian Retailers https://lnkd.in/g7pWCKQ4 South Asian Central Ram Sighat MQ Technologies-eCommerce/Digital /AI/Technology Enablement National Foods Limited Shan Foods Private Limited Britannia Industries Limited Nayab Fakhir Qazi Alaina Qazi #ecommerce #retail #southasian #online #usa #canada

With its strategic geographic location, robust transport infrastructure, and extensive regional connectivity, Singapore serves as a crucial node in cold storage supply chains. Coupled with a growing affluent population fueling the demand for fresh, healthy foods, the rise of e-commerce, including online supermarkets and hypermarkets, as well as the increasing demands of the biomedical manufacturing industry, the need for cold chain facilities is poised to escalate. Download our latest report as we delve into the trends and opportunities within the Singapore cold chain real estate market. >> https://cushwk.co/4dHwR6E

Here's a summary of retail news in Asia over the past 7 days courtesy of GROK 2 - **Fast Fashion and Luggage Retail**: A Chinese fast fashion retailer opened a 3,000-square meter store targeting consumers aged 18 to 35. Meanwhile, a US luggage maker is enhancing its online presence to drive revenue in Southeast Asia.[](https://retailasia.com/) - **New Retail and Dining in Singapore**: Jewel Changi Airport introduced new retail and dining options following record footfall and sales in 2024, reflecting an ongoing expansion and adaptation to consumer trends.[](https://lnkd.in/eqtVyVVp) - **Policy Requests in Singapore**: The Singapore Retailers Association has called for relaxed foreign worker quotas and levies in the upcoming Budget 2025 to support the retail sector.[](https://lnkd.in/ewz3v_ew) These updates provide insight into the dynamic retail landscape in Asia, showcasing expansion, strategic shifts towards online platforms, and policy advocacy to support retail growth.

🛍️ Did you know that brand websites are quickly becoming a go-to for Singaporean shoppers? Our recent survey with Ninja Van revealed that while platforms like Shopee and Lazada are still huge (84%), 1 in 2 Singaporeans actually prefer to shop directly on brands’ websites when making cross border purchases. With 60% of shoppers doing online research before buying, having a strong website isn’t just nice to have- it’s a must-have to stay on your audience’s radar. 👀 Curious to learn more? Check out Ninja Van’s post below! #ecommerce #ninjavan #SoutheastAsia #retail #shopping #dataanalytics #data #Singapore #insights #marketresearch #crossborder #survey

A recent survey that we did with Milieu Insight, covering 1,200 shoppers across six Southeast Asian countries, highlights 𝐭𝐡𝐞 𝐬𝐭𝐫𝐨𝐧𝐠 𝐚𝐩𝐩𝐞𝐚𝐥 𝐨𝐟 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞𝐚𝐧 𝐛𝐫𝐚𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐫𝐞𝐠𝐢𝐨𝐧. Filipinos and Thais top the list – 68% expressed a strong likelihood to purchase from Singaporean brands, closely followed by Malaysians at 61%. 𝐓𝐡𝐢𝐬 𝐝𝐞𝐦𝐨𝐧𝐬𝐭𝐫𝐚𝐭𝐞𝐬 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐞𝐝𝐠𝐞 𝐭𝐡𝐚𝐭 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞-𝐛𝐚𝐬𝐞𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐡𝐚𝐯𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐒𝐨𝐮𝐭𝐡𝐞𝐚𝐬𝐭 𝐀𝐬𝐢𝐚𝐧 𝐞-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐦𝐚𝐫𝐤𝐞𝐭. With our strong brand reputation and the region’s robust e-commerce logistics network, Singapore’s SMEs are uniquely poised to expand across borders despite being Southeast Asia’s smallest country. Find our findings at:  https://lnkd.in/gwXUsSNq. #ecommerce #Singapore #asean #sea #CrossBorderExpansion #logistics #supplychain #crossborder

Our latest quarterly snapshot highlights the top retail areas in Malaysia experiencing high market friction. With shifts in market friction and foreign demand, these insights offer a deeper understanding of the competitive retail landscape in Malaysia. #DataSense #PropertyGuruGroup #PropertyGuruForBusiness #PropertyMarketOutlook #Q3Insights #Malaysia #RetailPropertyMarket Yik Ken Lee Branon Lee Joan C. Adelene Tan Hariz Zulkifli Ethan Lai Govin Raaj Ian Lim Shyn Yee Ho-Strangas 何勋谊

China #Retail & #Ecommerce Weekly Update (6 – 12 December 2024) · Kuaishou E-commerce launches new discounts for 12.12 shopping festival  · Mogujie’s half-year revenue down 26% yoy to 61.9 million yuan  · Duoduo Maicai and SF Intra-city launch home delivery service in Shanghai · Douyin Mall’s Chinese New Year festival begins on 2 January  · Alibaba’s Central China headquarters project begins operating  · Alibaba’s subsidiary Taotian Supply Chain Co. increases registered capital to 50 million yuan · JD MALL’s first store in Shanxi opens · Yonghui Superstores opens second 'Pangdonglai-inspired’ store in Zhejiang · Freshippo opens two new stores in Chengdu to bring store count to 30  · lululemon’s China revenue increases by 39% in 3Q24 · Alo Yoga plans to enter Chinese market in 2025  · Naixue: Baked goods and tea will be equally important in 2025 · MOFCOM: Cross-border e-commerce imports and exports increase by 11.5% yoy in the first three quarters of 2024 https://lnkd.in/gr5ikWpR

It’s surprising to see an 8% drop in retail sales from January to August 2024, with luxury goods and department stores feeling the pinch, especially when Hong Kong is the only economy in Asia with no GST, VAT, or sales tax, an unbeatable advantage we should be leveraging more effectively. Much of this decline is due to leakage to Shenzhen, where consumers cross the border to shop. We need campaigns that focus on Hong Kong’s tax-free status and unmatched purchasing power compared to Japan’s 10%, China’s 13%, and Singapore’s 9%. Tourists can shop freely here without the hassle of airport refunds, unlike in other destinations. This unique benefit sets us apart, offering incredible potential to position Hong Kong as the ultimate tax-free shopping haven. While other sectors seem to be doing well, we must reignite momentum for our retail sector too. #HongKongEconomy #TaxFreeShopping #ShoppersParadise #RetailInsights

Thank you Singapore Business Review for the feature on how retailers should add value and cut costs to battle their lower-priced rivals. " Januel Koh, digital marketing and branding lecturer at Singapore Polytechnic, said it is impossible for Singapore to compete with Johor Bahru on price. But it can leverage the value of its goods and services because consumers don’t choose based on price alone. He cited the case of Chinese hot pot chain Hai Di Lao, which is not the most budget-friendly option, yet it still attracts long queues in Singapore every weekend. “The main reason for that is because people are buying experience,” Koh said. “Consumers look at the quality of value that exceeds their expectation of perceived value than just purely prices. They want to buy something worth it and not just buy cheap stuff,” he added. " Quoting from the article, from a marketing perspective, it's important to understand how consumers perceive value and to focus on providing value-added services, rather than simply reducing prices and quality to engage in a price war. Read the full article here: