2022 was a dynamic year for Asia Pacific retail. With post-pandemic retail recovery well underway, experiential retail is taking centre-stage in-stores. Retail E-Commerce growth has also remained resilient. Digital tools and technologies continue to play a key role for retailers to engage and meet increased consumers’ expectations. This article explores trends shaping the current Asia Pacific retail landscape, while also spotlighting the top 10 fastest-growing retailers in the region.
Today’s male beauty consumers are increasingly informed and sophisticated, bolstered by dynamic sociocultural influences that are transforming gendered beauty norms. Self-care narratives partnered with curiosity in ingredient-led beauty are encouraging more men to invest in and expand their grooming routines.
Asia Pacific is a diverse region, encompassing a mix of markets with different economic and social backgrounds. Businesses looking to introduce loyalty programmes in the region must keep this diversity in mind; understanding the unique aspects of local markets and catering for the needs of consumers in these markets will be critical in strengthening and retaining customer loyalty.
Brands stretch beyond traditional distribution strategies as they champion e-commerce. Riding the e-commerce wave means more than merely distribution for fmcg brands. Devising and executing digital shelf strategies require new insights into the value chain, which include understanding consumer behaviour online, inventory management, logistics, partners and new business models.
Food has become a captivating fandom topic, with over 508 million worldwide Instagram posts using the #food hashtag. Consumers seek communities around their passions, and loyalty programmes catalyse fandoms and brand connections. By aligning with customer needs, they unite audiences in shared brand enthusiasm. Loyalty programmes play a crucial role in fostering these bonds, connecting brands with consumers through personalised rewards, enhancing satisfaction, and building loyalty.
Households globally are transforming in terms of structure, living environment and consumer values. The family structure is evolving to encompass childfree living, which, in turn, leads to demand for less space but more comfort. As consumers seek more convenience, interest in electronics and appliances that complement consumers’ lifestyles grows. Additionally, with changing consumer priorities and increasing access to amenities, homes become not only sanctuaries of comfort, but also a 24/7 place of work and play.