A divide is emerging in Asian retail markets, with optimistic shoppers in emerging economies showing growth potential while those in mature markets demonstrate price sensitivity. Despite widespread cost-consciousness into 2025, value will remain a main driver. Successful retailers will be those who can elevate the shopping journey and introduce products that bring consumers joy and convenience across all channels.
In this evolving landscape, pop culture, entertainment, and the arts will emerge as ‘anchors of meaning’ for shoppers, driving a greater focus on retailtainment and cultural spaces and products. As such, exceptional service will become rooted in respect for local languages and culture. 2025 will also see a continued focus on longevity, with shoppers adopting a more intentional and wellness-led approach to living. To come out on top, retailers must create compelling value propositions underpinned by affordability, ease and convenience, trust and new priorities around localisation, wellness and culture.
Finding the middle
Shoppers in mature consumer markets are becoming more cost-conscious amid socioeconomic instability, while shoppers in fast-growing emerging markets are creating new growth pockets as they trade up. Service this new middle by offering more value for money.
Superior service
New luxury consumers are demanding superior experiences and conveniences that combine digital-first strategies with Asia’s unique culture of service. According to the UBS Global Wealth Report 2024, APAC’s riches grew by nearly 177% over the past 15 years, outpacing the rest of the world. To capture wealthy shoppers, brands will need to go above and beyond conventional service metrics.
Grow cultural currency
Consumers are gravitating towards culture, media and entertainment for anchors of certainty and community amid global upheaval and a youth loneliness crisis. Align your strategies to offer emotional antidotes and meaning beyond immediate gratification.
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