Euromonitor International and Retail Asia are pleased to announce the tenth edition of the Retail Asia Top 500 Retailers Ranking.
The Retail Asia Top 500 ranking is an accumulation of Euromonitor International's retailing data and analysis ranking the top retailers from 14 key economies across Asia Pacific in terms of total sales, number of outlets, sales area (sqm) and sales per sqm.
The region's top 500 retailers grew by 5.4% in current value terms in 2012 to top $1 trillion in sales, compared to 11% growth in 2012, primarily due to a weak greenback against a number of local currencies such as the Japanese yen.
According to Retail Asia Editor Steven Goh, "A new generation of highly affluent, knowledgeable and discerning Asian consumers has emerged over the past decade. While publishing the Top 500 over the past ten years, it has been impressive to watch Asia Pacific retailers grapple with the ups and downs of the last decade, and evolve to cater to the changing tastes of the increasingly sophisticated Asian consumer.
Euromonitor's research found retailers across the region turning to internet retailing to strengthen their market share. For the first time, the Top 500 ranking issued a special ranking of the top ten internet retailers in the region, in recognition of internet retailing's growing importance.
"With the rise of internet users and online shoppers in China, it comes as no surprise that the leading internet retailer in the Asia-Pacific region was Alibaba Group Holding Ltd.'s Tmall.com," adds Geok Leng Loo, Head of Research at Euromonitor International. "These e-commerce companies made efforts to establish nationwide logistics facilities, accelerate delivery services and enhance customers' shopping experiences. More retailers are likely to make their debut in the internet retail market, including the No.1 player in direct selling, Amway China."
In the latest edition, Euromonitor provided a preview into the most successful retail formats in the region, with convenience stores leading the way. Specialist clothing, footwear and apparel retailers also saw significant gains driven by a growing demand for luxury, and specific brands not found elsewhere.
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Euromonitor International is the world's leading provider for global business intelligence and strategic market analysis. We deliver market research solutions to support strategic planning for today's increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers.