2018 RETAIL ASIA-PACIFIC TOP 500
A
M E S S AG E
sia is on the move — and livelihood + lifestyles in the region are changing rapidly,
so much so that the retail landscape has been transformed as consumers, young and
old, are now into multi-channel shopping.
While many are focusing their attention on the transformation of the retail scene
in China, with Alibaba consolidating its pole position amid increasing competition, we must
not take our eyes off India.
According to Euromonitor International, our resource partner in developing the Retail
Asia-Pacific Top 500 ranking, retail in India is also growing steadily. Modern retailing has taken
root and since 2015 retailers have made concerted efforts into offering consumers omni-channel
shopping. Last year, more retailers progressed further by making the shopping journey seamless
for their customers. Goods bought online could be picked up, repaired or returned at bricks-
and-mortar stores.
As complaints of faulty products bought online or offline can be aired online, retailers are
now more responsive and mindful of their level of service.
Modern Indian retailers are now setting up stores in second- and third-tier cities around the
country as rentals in the major urban centres are sky high. Moreover, convenience is the name
of the game in India today.
Another country in Asia that one should take note of is Vietnam. With a growing middle-
income consumers as well as a young and technology-savvy population, the retail industry will
continue to record steady growth.
As technology is becoming an integral part of doing business in Vietnam, the potential of
mobile commerce is about to take off. With the high penetration of the Internet nationwide and
4G users increasing day by day, online retailing will soon prevail.
The government has also relaxed its restrictions on foreign investments, including allowing
foreign entities to own 100% shares of businesses in Vietnam. This facilitated many mergers and
acquisitions between local and foreign companies last year.
As reported by Euromonitor International in the Overview section of this year’s Top 500
ranking, the VinGroup has acquired Maximart supermarkets, while AEON Group bought shares
in Dong Hung Trading Service. Non-food retailers such as Zara and H&M have also established
foothold in Vietnam.
Retail Asia is also eyeing Vietnam. We hope to see
you in Ho Chi Minh City this October for our annual
Top 500 Awards & Gala Dinner to congratulate and
honour all the retailers that have made it to this year’s
Top 500 ranking.
Andrew Yeo
Publisher
Retail Asia
40
Retail Asia June/July 2018