Stores
KFC reaches 10,000th store milestone in China
The iconic fast food chain has a strong 36 years of growth in the Chinese market.
KFC reaches 10,000th store milestone in China
The iconic fast food chain has a strong 36 years of growth in the Chinese market.
APPF Retail disposes of Far North Queensland shopping centre
The transaction will take place in late February 2024.
Charter Hall Retail REIT to sell two shopping centres
It will divest the Southgate Square and Rosebud Plaza.
Toys “R” Us launches new experience-driven store in Changi Airport
The store will also feature a mini indoor play park by Kiztopia.
WalterMart partners with 2GO for same-day grocery delivery
The logistics company will manage WalterMart’s delivery platforms covering 13 key cities.
Pizza Hut Indonesia's Ristorante concept features diverse menu at reasonable prices
The new restaurant aims to draw family audiences and a younger generation of Indonesians.
Taiwan’s Gong cha inks 2 master franchisees in the Americas
This will support its expansion in the region by over 100 stores.
E-commerce leads China’s FMCG market with 4% YoY in Q3
Smaller formats such as super/mini and grocery stores are also gaining traction.
S&R partners with UnionBank for exclusive credit card co-branding
Applicants can enjoy rebates, free pizzas and vouchers with the UnionBank S&R credit card.
Delivering the ultimate retail experience: How tech steers the future of shopping in Asia
Omnichannel remains crucial for business operations, whilst AI is proven to be useful in front and back-end.
McDonald’s to double down digital, delivery and drive-thru strategy by 2027
The chain unveils plans for expansion, loyalty programmes and cloud technology.
Yoshitsu Co., Ltd. takes over operations of Hong Kong stores
Excellent Wellbeing International Co., Ltd. previously managed the Hong Kong operations.
China’s FMCG sector sees ‘soft recovery’: report
The sector saw a 1% growth in the first nine months of 2023.
Bluebell Group launches LeSportsac in Australia
LeSportsac opened a pop-up store and will launch its e-commerce website in the market.
Shiseido rolls out venture fund for beauty wellness development
Its inaugural investments were in Phi Therapeutics and Patrick Kidd Holdings.
UNIQLO expands to North American market with 20 new stores in 2024
The brand aims to reach 200 stores by 2027 in North America alone.
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Global uncertainties influence Vietnamese consumer preferences
![Global uncertainties influence Vietnamese consumer preferences]()
Still, the country’s retail and e-commerce sectors continue to expand.
THINK of the lingering global uncertainties in the market, and that well explains why consumer spending in Vietnam remains cautious.
At the recent Retail Asia Forum in Ho Chi Minh City, Lam Thi Ngoc Hao, partner head of clients and markets and head of business transformation at KPMG, said global uncertainties, including the effects of the COVID-19 pandemic and geopolitical tensions, continue to shape Vietnamese’s consumer behaviour.
She said the combined challenges make economic recovery difficult. Consequently, consumers become more cautious and deliberate in their spending decisions.
With Vietnam’s GDP per capita projected to rise significantly by 2030, driven by a youthful demographic and increasing disposable incomes, Hao emphasised the immense potential for businesses to capitalise on shifting consumer preferences.
She said that the average increase for retail apartments is around 7%–8%, with those sold outside the shop experiencing a range of 6%–7%. Additionally, e-commerce is expected to see significant growth, potentially reaching up to 17.7%.
Technological innovation plays an important role in enhancing customer experiences and driving business growth.
Hao highlighted the growing demand for artificial intelligence (AI)-driven solutions amongst businesses, with a majority expecting tangible returns on their investments within a few years.
She cited two primary categories of AI adoption, including everyday AI, aimed at boosting operational efficiency and customer satisfaction, and game-changing AI, poised to revolutionise industry dynamics in the coming years.
Urging businesses to embrace technological advancements whilst mitigating risks, she stressed the importance of strategic foresight in navigating the evolving landscape.
She said that over the past four years, KPMG conducted extensive global research involving 21 countries and over 82,000 participants, with 1,549 participants from Vietnam.
Utilising their customer experience measurement framework, KPMG assessed satisfaction, loyalty, and brand advocacy amongst participants, providing valuable insights for businesses to enhance customer experiences.
Their framework, employed across 150 countries, identified six key pillars influencing customer experiences, including product differentiation, personalised solutions, prompt issue resolution, empathetic customer service, proactive problem-solving, and continual innovation.
Still, the country’s retail and e-commerce sectors continue to expand.
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1. South Korea's e-commerce market hits $115.1b in 2023 2. Rakuten and Thailand join hands to showcase Thai products 3. Deliveroo opens third Hop site in Kwun Tong 4. How TikTok drives consumer behavior through ‘shoppertainment’ 5. ShopUp to establish 700 distribution hubs across Bangladesh by 2025Awards
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