Grocery Retailing in Asia Pacific

November 2019

Asian retailers are leading the market expansion through hyperlocal offerings and an omni-channel strategy to facilitate a seamless shopping experience and convenient store formats to appeal to the urbanizing, convenience-seeking and hyperconnected consumers. Retailers are shifting from large format hypermarkets and supermarkets to small-sized convenience stores in response to the on-the-go and buy-as-you-need shopping trends among Asia Pacific consumers.

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Key Findings

Favourable socio-demographics in Asia Pacific to boost retail growth

The heavily fragmented markets in Asia Pacific promise an accelerated growth opportunity for modern and traditional grocery retailers alike. The robust expansion in grocery is driven by the burgeoning population, rising disposable incomes, smaller households, expansion of store networks, new convenient formats such as internet retailing, and hyper connectivity with penetration of the internet and digital devices.

Rising demand for smaller product assortments in response to changing lifestyles

Asian countries witnessed rapid urbanisation into densely packed cities and a gradual rise in smaller households. The shrinking size of households led to a shift in grocery shopping, with consumers refraining from bulk purchases and preferring high frequency buy-as-you-need and top-up visits. Time-pressed consumers are turning to smaller convenient stores and online grocery retailers to avoid the long queues of large format hypermarkets and supermarkets, and traffic congestion in densely populated cities.

Convenience stores making inroads as consumers adopt on-demand culture

Hyper connectivity, immediacy, and transparency are influencing consumers when it comes to grocery retailing. The proliferation of digital media has made information and interaction between brands and consumers more accessible and transparent. Retailers are turning to digital channels and integrating physical and online stores to capture all consumer segments through omni-channel strategies.

Quality and credibility, are deciding factors in choosing a grocery retailer             

Retailers are increasingly looking to differentiate their product and service offerings in order to cater to rapidly evolving consumer demand. Modern retailers have a penchant towards local product expertise and vary their approach towards assortments, combos, and promotional strategies to resonate with local tastes and preferences.

Introduction

Scope
Key findings

Regional Overview

Socioeconomic factors drive growth in grocery retailing in Asia Pacific
Economic slowdown impacts growth in grocery retailing in Asia Pacific
Modern and traditional retailers join hands in emerging markets
Traditional grocery retailing struggles in developed countries
Emerging countries drive growth in grocery retailing in Asia Pacific
Driven by developed countries, modern grocery retailers outperform
Traditional grocery retailing faces tough competition in developed countries

Leading Companies and Brands

Grocery retailing remains fragmented in Asia Pacific
Convenience stores players lead the list of retailers in Asia Pacific
Japanese companies have a good regional presence
Focus on small store formats helps Chinese brands rise in the ranking

Forecast Projections

Emerging countries will continue to outperform
E-commerce will intensify the competition, particularly in developed countries

Country Snapshots

China: market context
China: competitive and retail landscape
India: market context
India: competitive and retail landscape
Japan: market context
Japan: competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape
Vietnam: market context
Vietnam: competitive and retail landscape
Philippines: market context
Philippines: competitive and retail landscape
Pakistan: market context
Pakistan: competitive and retail landscape
Bangladesh: market context
Bangladesh: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Kazakhstan: market context
Kazakhstan: competitive and retail landscape
Hong Kong, China: market context
Hong Kong, China: competitive and retail landscape
Azerbaijan: market context
Azerbaijan: competitive and retail landscape
Myanmar: market context
Myanmar: competitive and retail landscape
Uzbekistan: market context
Uzbekistan: competitive and retail landscape
Sri Lanka: market context
Sri Lanka: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape
Laos: competitive and retail landscape
Laos: competitive and retail landscape
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