We are about to put another challenging year behind us. New variants, lockdowns, social distancing measures, travel restrictions and supply chain disruptions, 2021 brought its fair share of challenges to the retail industry. However this year also brought new opportunities with the acceleration of the digital transformation, the rise of the metaverse, the growth of BNPL services, the launch of new retail tech solutions and the list goes on. To help you navigate the “new normal”, we published in-depth articles in our Intelligence section to share insights on different Asia markets and retail segments, changing consumer behaviours, the state of physical retail and so on.
Here, we have rounded up the five most-read Intelligence articles of the year.
Five Indonesian e-commerce marketplaces you need to know right now
Indonesia remains a burgeoning e-commerce market in Asia-Pacific. In 2020, the Southeast Asian nation recorded an all-time high for e-commerce sales growth for the twelve-month period, registering a revenue of approximately US$33 billion, up 61 percent from 2019.
Aside from the region’s major e-commerce players such as Tokopedia, China’s JD.com and Singapore’s Shopee, there are several lesser-known Indonesian e-commerce firms leaving a distinct mark in 2021. Read on and check out which ones are to watch in Indonesia’s ever-growing e-commerce market.
Luxury Spending in Asia Pacific: Beyond Coronavirus
The pandemic has had a serious impact on the global luxury market. According to Euromonitor International’s Luxury Goods 2021 edition, the global market shrunk by 15 percent in value in 2020.
Personal luxury in Asia Pacific saw sales decline by 7 percent in 2020, but the region’s share of global personal luxury goods increased from 32 percent in 2019 to 37 percent in 2020, illustrating Asia Pacific’s growing importance.
Euromonitor International shares 5 key strategies to thrive in a post-COVID-19 environment in Asia pacific.
What are the 2021 top 10 global consumer trends?
Consumer habits and business operations were upended due to COVID-19 pandemic. During this volatile time, it is imperative to prioritise what customers want. Identifying the new consumer trends early will allow brands to create products and services that resonate with consumers.
Euromonitor International’s Top 10 Global Consumer Trends 2021 report reveals the most impactful trends that will define consumer behaviour in 2021. Check out the trends to look out for in 2021.
Which Asian cities are returning to physical retail in 2021?
As the world learns to live with Covid-19 and businesses and retailers start to reopen, major cities in Asia are also witnessing the return of physical retail, whether it be along shopping strips and popular high streets, or within malls and department stores.
While retail footfall and tourism are still below pre-Covid levels, an in-depth look into the retail vacancy levels and rental prices of retail spaces in the second quarter of 2021 provides a snapshot of the current retail climate for business and consumers.
Which cities have bounced back from the pandemic quicker than their Asian counterparts? Which industries are driving the return to physical retail? And, how long will it take for consumer footfall and tourism retail to return to major Asian shopping hubs?
The article got the scoop from real estate experts, sharing the latest retail and rental data across major cities such as Hong Kong, Seoul, Tokyo and Singapore.
Meet the five consumer personalities redefining Asian retail in 2021
Think you know what Asian consumers want in a product, and how they like to shop?
Based on Bluebell Group’s ‘Asia Lifestyle Consumer Profile’ report, this article is a market by market overview of how consumers in Asia are evolving in their shopping and product preferences, highlighting both commonalities and differences across six Asian markets.
From the Culturalist to the Neophilist, read on to discover the five major consumer personalities defining Asian retail in 2021.