Lotte New World is the top ten retail enterprises in Asia

Euromonitor International recently released Top 100 Retailers in Asia 2019, and analyzed the current situation of retail market changes in Asia-Pacific region and the main causes of market changes.

The survey was based on the retail market scale in Asia from 2017 to 2018, excluding sales of hotels, catering and duty-free shops. According to the report, Alibaba ranks first among the top 100 retail enterprises in Asia, followed by Jingdong, Seven & I Holdings, Yongwang Group and Amazon.

There are three e-commerce businesses in the top five enterprises, and two retailers are mainly physical stores. Among Korean enterprises, Lotte ranked 8th, New World 10th, Modern Department Store 23, GS Holdings 24, Home Plus 32, SK Planet 33 and Coupang 57.

Asia accounts for 41% of the global digital commerce market, which is affected by various factors such as personal income increase, population aging, urbanization and one family increase, which cause the change and growth of Asian retail market. According to Euromonitor data, online e-commerce platform accounted for about 47% of Asian online B2C transactions in 2018, up 20% from 10 years ago.

Alibaba, Jingdong Mall and Lotte not only provide a wide range of shopping options, but also build a secure payment system and reliable distribution system, which contributes to the sustained growth of the market. By 2023, the online retail market in the Asia-Pacific region will reach $1.6 trillion, which will be about twice the size of the market in 2018.

In the next five years, with the increasing income of Asian households represented by Indonesia, Malaysia and India, it is expected that the large retail market in the relevant countries will continue to expand. According to Ivan Uzunov, Euromonitor consultancy manager, products such as food and beverages that traditionally can only be purchased in physical stores can now be easily purchased online. With the development of the e-commerce market, urban consumers'purchasing mode has changed from mass purchasing to on-demand purchasing, which is changing the way of thinking of consumers.

He also said that although beverage and food stores are representative offline retail channels in emerging Asian developing countries, more and more consumers are turning their attention to more modern retail channels such as convenience stores.