“Physical retail is dead!” — open any news publication and you’re likely to find a similar headline. The reasons for such fears are aplenty.
The Southeast Asian region is very much on the rise. In terms of economic growth, the 10 countries that make up the ASEAN trading bloc are equivalent to the world’s ninth largest economy. From 2010 through 2020, ASEAN gross domestic production growth is projected to reach 5 percent; Vietnam is set to grow by 6.8 percent on average over the decade, with Indonesia clocking in at 5.5 percent.
This region’s burgeoning economic health is also apparent in the steady rise in disposable income levels, creating a critical and fast-growing mass of youthful, urban, middle-class consumers who are hungry for the best digital retail experience technology can offer.
By 2020 the majority (60 percent) of the world’s millennials (18-29-year old) will live in Asia. Being digital natives, millennials rely on mobile devices to meet all their needs — making purchases, doing research, hailing a cab, or booking a flight.
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