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It’s not a secret that micro-retail, especially in the form of traditional mom-and-pop stores, are still a huge part of Southeast Asia’s overall economic growth. Prevalent all across the region, these small, family-run businesses—known as sari-sari in the Philippines, warung in Indonesia, and shohuay in Thailand—usually sell groceries in sachets or other tiny packages. Most products are hung by the storefront so that customers can quickly tell what’s available for the day. Besides bagging a meagre amount of groceries, people can typically also buy snacks or drinks to go.

Thailand's intimate hygiene product market has experienced significant growth, ranking amongst the top five in product launches in the APAC region over the past five years, according to data from the Mintel Global New Products Database. However, there is still room for innovation, as Thai consumers are seeking more than just hygiene from these products.

2024 is proving to be a challenging year for luxury across Asia. The first half of the year has seen significant sales declines for most luxury and mid-tier brands across the region. This is largely due to a slowdown in China with fewer Chinese travelling as a result of the poor economy. With residential prices falling, unemployment growing and the stock market ailing, most people in China are preferring to save their money rather than spend it. Only the super-rich have the appetite to keep spending on luxury.

As we enter the second half of 2024, many retailers – from digital natives, to multi-channel retailers that have a digital presence – will be looking to gear up for various shopping festivals and dates. These include Singles’ day, Cyber Monday and End of Year festivities, just to name a few. These festivities present a critical opportunity for merchants to showcase their offerings online to a vast consumer audience. However, competition amongst retailers is fierce, particularly in Asia with many businesses leveraging dynamic marketing tactics such as interactive campaigns, live streaming, and social media promotion to entice and engage new customers.

Women are increasingly prioritising their health and embracing holistic, long-term solutions and trends to take charge of their wellbeing.

CEOs globally have been forced to adapt to a new reality of constant disruption and uncertainty. Just as economies saw growth surges when emerging from the COVID-19 pandemic, many were plunged back into a state of slower growth, driven by geopolitical tensions, inflation and higher interest rates. In Asia-Pacific, there is consensus among CEOs that a downturn is near, if not already in effect. According to the EY CEO Outlook Pulse, 99% of CEOs are actively planning for a downturn scenario, with a majority (72%) preparing for a severe downturn in the region.  

When COVID-19 disrupted our lives a few years ago, consumers swapped their skinny jeans and trouser suits for comfy leggings and joggers and haven’t looked back since. Athleisure has taken the world by storm, and consumers in Southeast Asia love it.

As Singapore tentatively eases COVID-19 restrictions, the Lunar New Year tunes and décor may signal a returning to life for in-store retail. This should be exciting news for many brick-and-mortar retailers and consumers who have been deprived of in-store shopping experience. In a recent Sensormatic Solutions study, almost one third (30%) of Singapore consumers said they missed shopping in physical stores.

Since the first lockdown in 2020, many retailers had to pivot to e-commerce for the first time in a bid to help their businesses survive.

Stores have always been at the epicentre of retail disruption, be it the onslaught of digital or the recent pandemic. Despite ominous predictions, stores have risen like a phoenix to cater to shifting business landscapes and shopper behaviours. Retailers who view their stores through a new lens will realize endless possibilities because:

Modernization of commerce has emerged as a fundamental need for the future of retailing.