Southeast Asia is a growing market, opening up new business opportunities for retailers. However, inflation and fluctuations due to the rising cost of living are strongly affecting the retail sales of these brands. Therefore, they are looking for support to improve operations and optimize revenue. Digital trends are like an open door to many opportunities but also challenges for them. To grasp the opportunities that the digital lifestyle brings, retailers need to have an overview of the market and stay ahead of new trends. From there, come up with a suitable strategy and choose the right group of potential customers, advertising channels, and business models. In this article, we would like to introduce the top retailer in Southeast Asia, strategies, and secrets that help you gain insight into them, thereby finding solutions for your business.
Overview of the top retailer in Southeast Asia
The retail industry in Southeast Asia saw a downward trend in growth during the previous pandemic because of the efforts of governments to establish contingency plans to deal with the pandemic, resulting in a slow back to recover domestic business. However, the pandemic has created an opportunity for eCommerce players to grow at a much faster rate. The top retailer in Southeast Asia has had a change in rankings. The leading retailers in the market are Sea Ltd (brand owner of Shopee), Tokopedia, and Seven & I Holdings. This shows that the market region is extremely active in retail activities. Besides benefiting from the trend of online shopping, eCommerce players, such as Tokopedia, Shopee, and Lazada, have played an important role in bringing more traditional brands to the online retail platform. With consumers in the region becoming more and more tech-savvy and more brand organizations forced to shift to the omnichannel trend, eCommerce and omnichannel are expected to maintain their influence on the market in general and the retail industry in particular.
Strategies and secrets of the top retailer in Southeast Asia
Technology innovates rapidly, and the prices of smartphones, tablets, phablets, and laptops are affordable, reaching many segments of buyers. These are the two main reasons why retailers are having a transformation. In addition, the outbreak of the pandemic has further boosted sales through eCommerce platforms. In particular, in emerging markets like Southeast Asia, online communities are more developed than the real-life market, consumers tend to buy products online.
The top retailer in Southeast Asia has campaigns to respond to this shift. They have expanded their market by expanding more platforms and websites for their brand. The needs of customers are more and more met. Buyers can order in a variety of ways, even ordering online and picking up in person. This helps them save time and makes it convenient to choose many products without effort.
Moreover, the buyer’s payment process is also easy, fast, and reliable thanks to the connection with POS (point-of-sale) solutions. These systems help businesses accept a variety of forms of payment, such as cash, debit, and credit cards, via third-party payment gateways or e-wallets. Buyers can pay at the time of purchase or buy now and pay later. This suits the diverse needs of many people. Top retailers in Southeast Asia have been more responsive to customer needs, realized omnichannel conversion, providing better quality products and more complete information because today’s consumer is perfectly informed about products and they have a comparison and selection with the products they buy. Along with that, the interfaces at their stores are also what makes them top-of-the-line. A user-friendly interface will help businesses attract more buyers.
Tips for the Retailer in Southeast Asia
Retailers in the market who want to grow more than the competition first need to focus on commercial media. It is being positioned as the 4th wave of digital advertising and has the ability to reach and engage consumers where they are actively browsing and purchasing. Businesses need to strive to own the customer journey from start to finish, and marketers will continue to invest in retail media to achieve maximum customer numbers and revenue. Besides, another tip for traders is that they need to understand the market, understand the optimal time. This can be seen through the reporting and analysis support of POS systems.
These systems will help the organization make the right business decisions and the right promotions. Therefore, they need to pay more attention to support tools and changes in customers’ online shopping patterns. Paying attention to product quality and paying attention to customers will also help their profits improve. Retailers should combine quality and loyalty programs. Modern software will also assist in creating loyalty programs for customers, offering incentives for long-time shoppers, thereby helping the store retain more customers. Notably, in today’s society, the importance of aligning with brand values such as being environmentally friendly and socially responsible will also push customers to come closer to their brand.
Overall, retail brands need to pay more attention to enhancing the consumer experience, providing them with easy and seamless processes to make shopping more convenient. Along with that, the digital transformation to meet the market and responsibilities to the environment, society, and people is also emphasized to get the best brand image.
ConnectPOS is a perfect point-of-sale system for the top retailer in Southeast Asia. This omnichannel solution will help businesses achieve their market expansion goals. Its POS features include order management, customer management, and payment assistance. Businesses will be able to respond to customer needs more easily and quickly. What’s more, it provides the powerful feature of centralized data combined with an advanced inventory management solution called Multi-Source Inventory (MSI) to make stock control easy, fast and accurate, making purchasing decisions and marketing strategies more effective. Along with that, ConnectPOS integrates with many famous payment gateways to make the payment process easier and more seamless. ConnectPOS supports many industries, including retail with less popular products like cannabis, firearms and so forth.
The top retailer in Southeast Asia has made a clear transformation, choosing for themselves the best support solutions to bring high business efficiency. In addition to paying attention to your business, monitoring the market and prevailing trends will help brands make the most appropriate changes and adaptations. If your retail business is looking for an effective omnichannel system, feel free to contact us.