What are megacities?
Huge cities of 10 million-plus residents such as Tokyo, Shanghai, and Bangkok stand out as, not only their respective nations’ gauge of economic health, but also as the nexus of retail, possessing unique characteristics from the remainder of the country.
The top 10 leading Asian megacities are also home to Asia’s most famous retailers, namely AEON, Lotte Shopping, E-mart, Seven and I and Dairy Farm. Accompanying our ranking is a guide highlighting the most innovative new flagship stores constituting the best regional retailing concepts.
Tokyo is at the forefront of Asian grocery retailing, a true powerhouse and testing ground for many big retailers.Tokyo brings together many of retail’s big beasts such as AEON, 7-Eleven, Walmart Seiyu and Costco. Although maintaining a sluggish growth rate, Tokyo will still lead Asian retailing in 2020 by retail sales and market maturity.
Shanghai emerges as the largest Mainland China consumer market. Sheer size, population growth and economic scale has transformed the city into one of the most compelling landscapes for international retailers on a global scale. As to the nature of its modern retailing aspect, Shanghai is suitable for classic retail concepts, with an emphasis on premium and niche retailing.
Jakarta is the hub for Southeast Asian retailing with the dynamic retail climate demanding inward investment from regional operators. Indonesia’s dramatic explosion of ecommerce has made this hot spot well-placed as the next Asian online destination after China.
(Source: Retail Week )