The Southeast Asia Retail Report 2024

Unlock certainty in an uncertain market

Unpack actionable insights on selling and shopping in 2024 and beyond.

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Market shifts

Selling and shopping is changing across Southeast Asia.

Dive into evolving consumer expectations and retailer perspectives across Southeast Asia, and uncover how economic conditions, the prominence of ecommerce, and new technological investments are shaping the future of shopping.

83%of Southeast Asian consumers are cutting down on discretionary spending to save money

96%of Southeast Asian consumers would stay loyal to a brand if offered an incentive

68%of Southeast Asian retailers plan to increase investment in social commerce in the next 12 months

Key themes

The top forces shaping retail in 2024

Discover insights that highlight important commerce opportunities in the fast-evolving Southeast Asian market.

Consumer value

As shoppers cut back on spending, they’re on the lookout for brands that deliver the best value, providing retailers an opportunity to win with customer experience.

Acing ecommerce

Adopting a two-pronged marketplace and a strategy can deliver a powerhouse experience that drives discovery, builds trust, and earns loyalty.

Unified experiences

Though online shopping is king, retailers are ramping up their omnichannel efforts to meet the demands of in-store shopping.

Business efficiency

Impacted by spend, rising costs, and staffing challenges, retailers are increasing investment in tech to drive efficiencies.

Retail technology

With real-time pricing, business intelligence, and social commerce as the top investment priorities, retailers are betting on solutions that prioritise profit and efficiency.

Eugene Chua

Given the economic climate, customers have become more discerning and selective with how they spend their money. Social media continues to play a big role as a platform of discovery and in influencing customers' decisions. Newer channels such as TikTok have also made short-form video content, trend-setting and social commerce more popular. It is important to capitalise on these channels or forms of content or else you're missing out.

Eugene Chua — Executive Head, Global E-Commerce and Sales, Secretlab

Data beats assumptions