While digital media in South-East Asia now rivals China with more than 150 million consumers being digitally active, online retail sales make up a paltry 4pc of total retail sales.
However, the retail scene is ripe for disruption and companies need to position themselves now, according to a new report by Bain & Company and Google.
“Our research is a ‘last chance’ warning for South-East Asian companies,” said Florian Hoppe, a Bain partner and co-author of the report.
“We’ve had a front row seat to watch the digital disruption unfold in other markets; first the US and Europe, followed by China and India. With a few regional differences, we know how it will play out here, too, but companies are running out of time to act if they want to stay ahead of consumer preferences and beat the competition.”
(Source: The Star )