Southeast Asiaâs digital consumers also report that they intend to stay at home for shopping and leisure more than they did pre-Covid. No place on Earth matches this region in digital adoption. Over 80% of the pipeline projects are in three South East Asian countries, namely Indonesia, Thailand and Vietnam.â The regionâs consumers are 1.5 times less likely to dine out or go to a cinema than their counterparts in the USâa big cultural shift in a region where consumers were almost twice as likely as those in the US to eat out every day. An Overview to Southeast Asia's (ASEAN's) Games Market. Can Southeast Asia Live Up to Its E-commerce Potential? The economy slumped by a record 9.5 per cent last year, the worst contraction in South-east Asia for 2020, as Philippines enforced one of the world's longest and ⦠Driven by the growing ownership of household appliances and air conditioners, as well as increasing consumption of goods and services, demand has grown by ⦠Southeast Asiaâs ecommerce trends. Jakarta is ⦠In terms of relative market share (referring to the leader's market share versus that of the second largest player), e-commerce players in Southeast Asia lag behind markets such as the U.S and China where the largest e-commerce player is 6.5 times and 4 times larger than the second largest player in each respective market. Internet penetration in Southeast Asia has grown strongly in recent years. Southeast Asia is currently a very attractive market for companies involved globally in the e-commerce sector and smaller local players. The steps that consumer goods companies take today will shape consumersâ choices for the decades ahead. The MSCI Asia Emerging Market index, a gauge of the region's most-tracked stocks, climbed 63% from its March low, outperforming most of the world's markets last year, including U.S. equities. E-commerce, along with ride-hailing, are said to be the main drivers of Southeast Asia's internet economy, which, according to a popular industry ⦠âA common market is emerging, due to similar consumer themes developing across ASEAN,â said Aparna Bharadwaj, a BCG partner who leads the firmâs Centre for Consumer ⦠Southeast Asia edition 02 About the Global Mobile Consumer Survey Welcome to the fourth edition of the Southeast Asia Mobile Consumer Survey. To the contrary, companies should identify and engage with the rich new market segments that span Southeast Asia by analyzing the immense data generated by the regionâs connected customers. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. All in all, Southeast Asia is a games market to watch for any brandâwhether theyâre endemic or non-endemic to gaming. The following countries were included: Indonesia, Vietnam, Malaysia, Thailand, Singapore and the Philippines. This âSeizing The Untapped Opportunities in Southeast Asiaâ report reveals opportunities for growth in seven Southeast Asia markets. With the exception of Singapore, the typical shopper in Southeast Asia spends less than a quarter of the global average when it comes to online purchases of consumer goods, with the Philippines registering the lowest average of any country in Statistaâs global Digital Market Outlook study in ⦠It had 19.37 trillion rupiah ($1.4 billion) in sales in 2016, making it the largest drugmaker in Southeast Asia. HONG KONG, Sept. 8, 2020 /PRNewswire/ -- A new Nielsen study indicates that the news cycle related to COVID-19 transmission no longer influences trends on the FMCG market in Southeast Asia â rather, new socio-economic and behavioral patterns have come into play and are shaping the future state of the industry. This report covers the B2C E-Commerce market in Southeast Asia. Online consumers to exceed 200 million this year, up 50% from a year ago The news cycle related to COVID-19 transmission no longer influences trends on the FMCG market in Southeast Asia A new Nielsen study indicates that the news cycle related to COVID-19 transmission no longer influences trends on the FMCG market in Southeast Asiaârather, new socio-economic and behavioral patterns have come into play and are shaping the future state of the industry. The region holds a large consumer market. CONSUMER companies targeting Southeast Asia would do well to zero in on the regionâs mass affluent, a segment of some 57 million people that is growing faster than the middle class. Business sales â to customers who furnish and decorate everything from restaurants to apartment show suites with Ikea products â increased by 42 per cent year on year for the region. The digital integration of Southeast Asia is still in its early stages, and different tariff and regulatory regimes will continue to have an impact on the physical movement of goods for the ⦠Its portfolio in Vietnam, for instance, starts with budget brands (such as Tiger Beer priced at about 50 cents a can) and extends to high-end beers (such as Heineken and Affligem, costing $1 to $2 per bottle) with other brands at key price points in between. Meanwhile, Ikea South-east Asia delivered 353,000 orders to homes within the three regional markets for FY2019, up 38 per cent from a year ago. Southeast Asia: Revenue in the Sports & Outdoor segment is projected to reach US$2,462m in 2021. Business Southeast Asia digital consumer market to hit $50bn in 2017: report. As Southeast Asiaâs middle class grows along with digital capabilities, companies have a unique opportunity to reach a vast new community of consumers just as they are gaining exposure to different brands and developing preferences. Bain and Facebook have been studying the exponential growth of digital consumer behaviour in Southeast Asia for three years. 1 On the face of it, Southeast Asia would seem like an e-commerce wonderland. video on demand, music streaming services, and video games).. Grabâs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. At a turning point in terms of Internet and mobile penetration, the population of Southeast Asia is quickly adapting its behaviors to take advantage of new opportunities available in purchasing products and services online. Consumer-packaged-goods (CPG) companies in Southeast Asia might one day look at todayâs market as the lull before the storm. A broad definition of retail E-Commerce used by some original sources cited ⦠Owing to the marketâs appetite for mobile, penchant for esports, and engagement with game-streaming, itâs no wonder why so many of the biggest games companies are entering Southeast Asia. It has more than 650 million population and fast growing wealth to becoming economic superpower. This increase is not uniformly distributed; it is therefore vital that consumer-facing companies in the region develop much more granular growth strategies, identifying pockets of higher income and population growth. While Covid-19 may be among the most devastating of all black swan events to hit Southeast Asia, it by no means is the first â and like previous crises in the world, it is introducing long-lasting changes to consumer behaviour and digital adoption. As gaming markets in North America, Europe and Japan become oversaturated, more and more game companies are targeting countries in Southeast Asia before this region, too, becomes saturated with game content. The region's internet economy grew 40% year over year in 2019 to $100 billion in gross merchandise value across the e-commerce, online travel, online media and ride-hailing sectors, according to a joint report by Google, Temasek Holdings and Bain & Co. It holds an 11% share in Indonesia's fragmented pharmaceutical market and a nationwide distribution network covering nearly every hospital and 1 million retail outlets. âAs of August 2019, there were an estimated 414 projects for new hotels in seven South East Asian countries, which represents 19% of the total Asia-Pacific pipeline. The company markets a variety of beers at price points that target different consumer segments in Southeast Asia. Statista reports that consumers across Southeast Asia spent more than US$53 billion in 2018 on online purchases of consumer goods, travel products and services, and digital media (e.g. By 2017, combined regional GDP had reached US$2.8 trillion, making it the third largest economy in Asia and sixth largest globally. Southeast Asia is, in terms of electricity demand, one of the fastest-growing regions in the world. 8 WHILE SOUTHEAST ASIA ACCOUNTS FOR LESS THAN 3% OF Southeast Asia: Revenue in the Food & Personal Care segment is projected to reach US$12,187m in 2021. In South-East Asia, two-thirds of consumption growth in the period to 2030 will come from increasing per capita spending, and the remaining one-third from population growth. The bulk of that growth will come from the developing markets of China, India and throughout South-East Asia and it will give rise to a host of new decisions for businesses, governments and NGOs. This survey is a multi-country study of mobile phone users around the world, comprising 53,000 respondents While online purchases of physical goods have been slow to catch on in the region, new technologies, competition among sector leaders, and changes in consumer expectations are likely to accelerate the process. Consumer Health in Southeast Asia: Strong Growth Beyond Coronavirus | Market Research Blog October 5, 2020 Tara Velazquez Euromonitor With Coronavirus (COVID-19) plaguing the world, the consumer health industry in Southeast Asia is well-positioned to grow, as consumers stockpile on necessities such as over-the-counter drugs and immune-boosting supplements. The people in the Philippines send more texts than any other country. harder to spot around the world, Southeast Asia is gaining momentum and emerging as a growth engine for local and global companies alike. Economics, Consumer Spending, Emerging Markets, Asia Pacific (APAC), Asia Pacific (APAC) Economics, Retail & Distribution Deloitte Global Economist Network The Deloitte Global Economist Network is a diverse group of economists that produce relevant, interesting and thought-provoking content for external and internal audiences. The pressure will be on them to guide Asiaâs development in a way that is equitable and designed to solve a host of social and economic problems.
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