GlobalData

Proper regulations are needed to keep the industry on track with its sustainable goals.

The market is expected to grow by 3.2% CAGR over 2022-2027. 

The Central Retail Corporation recently announced that they will invest $826 million in Thailand and Vietnam to expand their retail presence in those regions. Their goal is to become Asia's leading retail omni-channel retailer within the next five years. A large part of the budget will be used to renovate and expand their stores in Thailand and Vietnam while investing in technology and sustainability.

Over a quarter of Taiwanese online shoppers prefer to pay via alternative payment methods.

Beijing's relaxed foreign investment rules and tax incentives are expected to boost domestic and foreign trade. In 2013, they began the construction of two zones that aimed to open up the service sector to boost overall economic growth. Beijing has been a pioneering city in developing a national integrated demonstration zone for greater openness in the service sector, which has led to an increase in the contribution of the service sector to the total GVA in Beijing from 77% in 2013 to 82% in 2022.

Mobile wallet adoption in Thailand, Vietnam far exceed those in the US, the UK.

As physical stores reopen, online spending may drop to 13.4% by end-2021 but never below pre-COVID levels.