According to the report released by Forrester Analytics, the six countries: Singapore, Malaysia, the Philippines, Indonesia, Thailand, and Vietnam are considered the main drivers of Southeast Asian e-commerce market.
By 2023, the online retail market scale in the six countries will almost triple, from $19 billion in 2018 to $53 billion in 2023. In the next five years, the average annual compound growth rate of the six countries is expected to reach 23%.
The Philippines will lead other countries, with a compound annual growth rate of 30.4%. Southeast Asia has been ranked as the best investment destination in 2019. At the same time, ASEAN also promised to fully address the challenges facing infrastructure and regulation in Southeast Asia. Against this background, the online retail market in Southeast Asia is likely to continue to exceed expectations and eventually lead to the development of global e-commerce.
“Smart Retail SEA 2019” was successfully held at Radisson Blu Plaza Bangkok on April 25-26, 2019. More than 150 industry experts and advanced technology and service providers from e-commerce platforms, department stores, and retail brands attended the summit. The summit provided a good communication and cooperation platform for Southeast Asian retailers through exhibitions, presentations, panel discussions, one-on-one business meetings, and investor meetups.
The summit kicked off with a welcome remark from Thai Retailers Association by CHATRCHAI Tuongratanaphan.
Tom WATERHOUSE, Associate Director of Savills Hong Kong, Anil KONIDENA, Head of Southeast Asia of Landmark Group, Denny PASARIBU, Vice President of Marketing and Commercials FX Sudirman Mall of PT Plaza Lifestyle Prima, Rajesh JAIN, Managing Director & CEO of Sports and Leisure Apparel Limited Lacoste Licensee in India, Parin SONGPRACHA, Executive Vice President of Thai E-commerce Association and Datuk Seri Garry CHUA, President of Malaysia Retailer Chain Association provided insight into the retail trends and challenges in SEA.
Dan MEJIA, Head of Communications and Press of H&M Philippines, Kevin TRANBARGER, Senior Director – Retail Projects – APAC of Jones Lang Lasalle, Stephanie JIN, General Manager for International Business of Shanghai Metersbonwe Fashion & Accessories Co Ltd, Pascal MARTIN , Partner of OC&C Strategy Consultants and Rishi ANAND, Senior Manager of PwC respectively delivered their keynote speeches.
Besides, there were two-panel discussions after the speeches, participants expressed their opinions and exchanged views on topics including how to enhance offline and online experience, opportunities and challenges of SEA developing Smart Retail, etc.
In addition, 31Thanwa, aCommerce, ALIST, Alpha King Real Estate Development JSC Vietnam, Bangchak, Big C Supercenter, Boon Rawd Brewery, Boots, Central Group, CPF Thailand, Ezbuy, HARNN, Hera Capital Partners, Home Product Center, Jaspal & Sons, Konvy International, L Catterton Asia, Lazada, LH Mall & Hotel, Maibe, Miniso, Mujosh (Photosynthesis Group), Nuke Co Limited Fitcraze, Omyanamr Online Shopping Mall, Pendulum, Philips, Pranda Jewelry, Prima Gold International Co Limited, Puri Group, Queenie Jewellery, SEIKO, Siam Makro, Siam Takashimaya, Lacoste India, Jim Thompson, Vincom Retail, Yum, Zettino…actively participated in the two-day summit. The summit came to a successful conclusion in a lively atmosphere.
Noppen Group is a leading international company facilitating business across Asia, Europe, Africa and Latin America. Driven by the desire for excellence and supported by an unparalleled understanding of the Asian, European, African and Latin American markets, Noppen Group has delivered exceptional events, assisted new market entries and established government relations since 1998. Our top-level business connections paired with our close relations to the many levels of government have given Noppen an edge on the marketplace our competitors just cannot match. With offices in China, Belgium, India, Philippines and Colombia; Noppen Group offers reputable, reliable services and a large range of deliverables to help your company successfully meet its goals.
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