Southeast Asia's retail landscape in 2024 is characterized by a dynamic mix of traditional brick-and-mortar giants and rapidly expanding e-commerce platforms.
The region's diverse consumer base, coupled with rising disposable incomes and urbanization, has created fertile ground for both local and international retailers to thrive.
Shopee
Shopee, operated by Sea Limited, stands as the undisputed leader in Southeast Asia's e-commerce sector. With a 48% market share, Shopee has become synonymous with online shopping in countries like Indonesia, Thailand, and Vietnam.
The platform's success can be attributed to its mobile-first approach, localized marketing strategies, and a vast product range that caters to diverse consumer needs.
In 2024, Shopee reported a 37% increase in Q4 sales, reaching $4.95 billion, with a significant contribution from its e-commerce wing, which saw a 41.3% year-over-year growth.
Lazada
Lazada, owned by Alibaba Group, remains a formidable player in the region's online retail space. While Shopee leads, Lazada continues to invest heavily in artificial intelligence and logistics to enhance customer experience and operational efficiency.
The platform's strong presence in countries like Malaysia and Thailand, combined with its robust infrastructure, ensures its position as a key competitor to Shopee in the Southeast Asian market.
Indomaret and Alfamart
In the realm of physical retail, Indonesia's Indomaret and Alfamart dominate the convenience store segment.
Indomaret, operated by PT Indomarco Prismatama, boasts an extensive network across the country, offering a wide range of products from daily necessities to ready-to-eat meals.
Alfamart, under PT Sumber Alfaria Trijaya Tbk, complements this by providing similar offerings with a focus on accessibility and customer service. Together, these chains have become integral to Indonesia's retail ecosystem, serving millions of customers daily.
7-Eleven Thailand
7-Eleven, operated by CP All in Thailand, is a ubiquitous presence in the country's retail landscape. With over 15,000 stores nationwide, 7-Eleven caters to a broad customer base, offering everything from snacks and beverages to essential household items.
The chain's extensive reach and consistent service quality have solidified its position as a leading convenience store brand in Thailand.
Central Group
Thailand's Central Group is a retail conglomerate with a diverse portfolio that includes department stores, supermarkets, and specialty stores.
The group's flagship brands, such as Central Department Store and Tops Supermarket, have a significant presence in Thailand and Vietnam.
In 2024, Central Group ranked second among Southeast Asian companies in the retail sector by revenue, underscoring its influential role in the region's retail industry.
MR.DIY
MR.DIY, a Malaysian home improvement retailer, has expanded its footprint across Southeast Asia.
With over 4,000 stores in countries like Malaysia, Thailand, Indonesia, and the Philippines, MR.DIY offers a wide range of products, from hardware to household items, at affordable prices.
The brand's success lies in its value proposition and extensive reach, making it a go-to destination for DIY enthusiasts and homeowners.
Charoen Pokphand Group
Charoen Pokphand Group, a Thai conglomerate, has a significant presence in Southeast Asia's retail and food sectors.
Through subsidiaries like CP All (operator of 7-Eleven in Thailand) and CP Axtra (operator of Makro and Lotus's), the group has established a vast network of retail outlets across the region.
Additionally, Charoen Pokphand Foods, a subsidiary of the group, is one of the world's leading producers of animal feed and poultry, highlighting the conglomerate's diversified business model.
Matahari
Matahari, established in 1958, is one of Indonesia's oldest and most recognized department store chains. With 143 outlets across the country, Matahari offers a wide range of products, including fashion, beauty, and home goods.
The brand's long-standing presence and commitment to quality have made it a staple in Indonesia's retail sector.
Aeon
Aeon, a Japanese retail conglomerate, has established a strong presence in Southeast Asia, particularly in Malaysia. Operating under the Jusco brand, Aeon offers a variety of products, including groceries, clothing, and electronics.
The company's flagship store in Bandar Bukit Tinggi, Malaysia, is the largest Aeon store in Southeast Asia, reflecting the brand's commitment to the region's retail market.
