Lifting the Barriers to Retail Innovation in ASEAN
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Lifting the Barriersto Retail Innovationin ASEAN
ASEAN’s fast-growing retail market has 600 millionconsumers in 10 countries, and a total GDP of $2.4 trillion.
Lifting the Barriers to Retail Innovation in ASEAN
US$ billion, CAGR %
CAGR +8%
Note: ASEAN market size includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Market size figures are rounded.Sources: Planet Retail, Economist Intelligence Unit; A.T. Kearney analysis
Brunei
Laos
Cambodia
Myanmar
Singapore
Vietnam
Malaysia
Thailand
Philippines
Indonesia
2015
94
875
329
139
127
4038
89
2016
951
100
363
151
135
4144
97
2017
1,031
107
397
164
143
4350
105
2018
1,119
115
436
178
151
4556
114
2019
1,215
123
478
193
159
4763
124
2020
1,313
131
521
209
168
4971
134
However, ASEAN lags behind its regional and global competitorswhen it comes to innovation.
Lifting the Barriers to Retail Innovation in ASEAN
The share of modernretail in ASEAN is lessthan 50% of all retailactivity, comparedto 70%-85% indevelopedmarkets.
Lifting the Barriers to Retail Innovation in ASEAN
ASEAN’s retailer-driven product innovation is low:Private labelsaccount for only1%–8% of sales.
Lifting the Barriers to Retail Innovation in ASEAN
ASEAN e-commerceis growing fast,but overall salesremain wellbehind U.S.and Chineselevels.
Lifting the Barriers to Retail Innovation in ASEAN
Retail innovation typically focuses on three generalareas: products and services, thecustomer shoppingexperience, and enablingtechnologies.
Lifting the Barriers to Retail Innovation in ASEAN
Our reporthighlights fourbarriers to retailinnovation andhow to overcomethem.
Lifting the Barriers to Retail Innovation in ASEAN
Reduce non-tari�barriers for newproducts
Lifting the Barriers to Retail Innovation in ASEAN
1
Improveaccess totalent
Lifting the Barriers to Retail Innovation in ASEAN
2
Improvetradee�iciency
Lifting the Barriers to Retail Innovation in ASEAN
3
Promote theintegration of “retailerinnovators”
Lifting the Barriers to Retail Innovation in ASEAN
4
Retail innovation is essential to ASEAN retailers’ growthand prosperity—and economic growth and employmentacross the region.
Lifting the Barriers to Retail Innovation in ASEAN
For more information about A.T. Kearney’s Lifting the Barriers to Retail Innovation in ASEAN, please visit: www.southeast-asia.atkearney.com/innovation/asean-innovation/lifting-barriers-to-retail-innovation-in-asean
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