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Lifting the Barriers to Retail Innovation in ASEAN | A.T. Kearney

The document discusses retail innovation in ASEAN countries. It notes that while ASEAN has over 600 million consumers and a $2.4 trillion GDP across 10 countries, the region lags global and regional competitors in innovation. Modern retail makes up less than 50% of ASEAN retail compared to 70-85% in developed markets. Private labels only account for 1-8% of ASEAN retail sales. E-commerce is growing but still below US and China levels. The report identifies four barriers to retail innovation in ASEAN - non-tariff barriers, access to talent, trade efficiency, and integration of innovators - and how to overcome them.

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Lifting the Barriers to Retail Innovation in ASEAN
ASEAN’s fast-growing retail market has 600 million consumers 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 40 38 89 2016 951 100 363 151 135 41 44 97 2017 1,031 107 397 164 143 43 50 105 2018 1,119 115 436 178 151 45 56 114 2019 1,215 123 478 193 159 47 63 124 2020 1,313 131 521 209 168 49 71 134
However, ASEAN lags behind its regional and global competitors when it comes to innovation. Lifting the Barriers to Retail Innovation in ASEAN
The share of modern retail in ASEAN is less than 50% of all retail activity, compared to 70%-85% in developed markets. Lifting the Barriers to Retail Innovation in ASEAN
ASEAN’s retailer- driven product innovation is low: Private labels account for only 1%–8% of sales. Lifting the Barriers to Retail Innovation in ASEAN
ASEAN e-commerce is growing fast, but overall sales remain well behind U.S. and Chinese levels. Lifting the Barriers to Retail Innovation in ASEAN
Retail innovation typically focuses on three general areas: products and services, the customer shopping experience, and enabling technologies. Lifting the Barriers to Retail Innovation in ASEAN
Our report highlights four barriers to retail innovation and how to overcome them. Lifting the Barriers to Retail Innovation in ASEAN
Reduce non-tariff barriers for new products Lifting the Barriers to Retail Innovation in ASEAN 1
Improve access to talent Lifting the Barriers to Retail Innovation in ASEAN 2
Improve trade efficiency Lifting the Barriers to Retail Innovation in ASEAN 3
Promote the integration of “retailer innovators” Lifting the Barriers to Retail Innovation in ASEAN 4
Retail innovation is essential to ASEAN retailers’ growth and prosperity— and economic growth and employment across 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