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Why Are Retail Profits in Asian Markets Soaring? | Infiniti Research’s Free Downloadable Resource Reveals What Retailers in the UK Can Learn from Them

May 27, 2019
How is Asia’s retail industry evolving? (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 27, 2019--

A well-known market intelligence solutions provider, Infiniti Research, has announced the completion of their recent free downloadable resource on what retailers in the UK can learn from the Asian retail market. Download the free resource for comprehensive insights into what makes the retailers in the Asian market different and how retail brands in the UK can take inspiration from them and revamp their strategies to overcome the retail challenges in their market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190527005217/en/

How is Asia’s retail industry evolving? (Graphic: Business Wire)

Retailers in the United Kingdom have been facing several challenges over the last year due to discounter and online competition, more expensive energy, and rising business rates. As a result, some of the key brands in the U.K. have been forced to shut down a consistent number of stores across the country. Retail executives seeking to understand the future of retail should take a close look at Asia. It has the world’s highest rate of Internet shopping and the fastest growth in overall sales. Experts at Infiniti Research expect that around half of the global retail growth will continue to come from Asia in the next five years.

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How is Asia’s retail industry evolving?

Mini marts are succeeding while large formats are struggling

Asian consumers are known to quickly adapt, as a result, some modern retail formats have struggled in hyper/supermarkets in the Asia Pacific. The reason is that getting around Asia’s cities can be difficult especially due to factors including pollution and congestion, so customers have started to favor shopping at the nearest facilities available to them. Although destination shopping malls were successful up to a point, now physical retail space needs to be where shoppers are, not where retailers want consumers to visit. Furthermore, the rapid penetration of smartphones has played a significant role in eliminating all those hours previously wasted commuting through heavy traffic each day.

Physical stores are evolving to stay relevant

Many traditional retail formats have re-imagined themselves in order to stay relevant. Supermarkets have transformed to more like wet markets and spaces with various niche food stalls, sometimes making it hard to tell where the supermarket ends, and the outdoor market begins. Here, consumers don’t feel the need to be loyal to one big brand; they are drawn to niche brands and exotic offerings, tucked-away for them to discover. What consumers want is an experience, environment, and ambiance. This is where retail in the Asia Pacific has really begun to get much more creative.

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Bringing social media to the forefront

Today, nearly everyone in Asia has a smartphone; nearly every smartphone owner is on social media; and social media apps (such as WeChat in China) combine nearly every service one needs to get by, including social messaging, online banking, payments, car-hailing, food ordering and delivery, travel planning, and retail shopping.

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About Infiniti Research

Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us

View source version on businesswire.com:https://www.businesswire.com/news/home/20190527005217/en/

CONTACT: Press

Infiniti Research

Anirban Choudhury

Marketing Manager

US: +1 844 778 0600

UK: +44 203 893 3400

https://www.infinitiresearch.com/contact-us

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING CONSULTING FINANCE RETAIL COMMUNICATIONS ADVERTISING MARKETING OTHER COMMUNICATIONS OTHER RETAIL

SOURCE: Infiniti Research

Copyright Business Wire 2019.

PUB: 05/27/2019 11:13 AM/DISC: 05/27/2019 11:13 AM

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