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Tag: retail growth

SM Retail’s First-Half Profit Rises Amid Strong Consumer Demand and Store Expansion

SM Retail achieved a 5% rise in net income during the first half of 2026, reaching US$143.8 million (PHP8.9 billion). The Philippine retail giant attributed this performance to sustained consumer demand for daily necessities and the ongoing expansion of its physical store footprint.

Operating income saw an even stronger increase, climbing 12% to US$226.2 million (PHP14.0 billion). This indicates the company’s effective management of operational costs, even in a period of higher inflation. SM Investments Corporation President and CEO, Frederic DyBuncio, highlighted the resilience of the Filipino consumer despite recent economic challenges, noting the robust performance of their consumer-led businesses and the contributions from a diversified portfolio.

Diverse Growth Across Segments

The company’s food retail sector demonstrated consistent sales growth across its supermarket and minimart chains. Specialty retail also saw higher sales, particularly in the Home, Other Fashion, and Kids categories. The Home category’s growth was fueled by continued demand for alternative power sources, while the Other Fashion segment was boosted by brands like Kultura and Crocs. The Kids category benefited from increased spending on toys, pet supplies, and stationery.

SM Retail’s strong showing contributed significantly to SM Investments’ overall consolidated net income, which reached US$741.7 million (PHP45.9 billion) for the first half, an 8% increase from the previous year. Retail accounted for 15% of SM Investments’ net income, following banking (47%) and property (27%). The group’s mall business also reported an 8% revenue increase to US$675.5 million (PHP41.8 billion), a result of higher occupancy rates, stronger tenant sales, and improved operational efficiency.

Strategic Outlook for Continued Expansion

Looking ahead, SM Investments CEO Frederic DyBuncio expressed optimism for the second half of the year, while acknowledging potential macroeconomic uncertainties. He stressed that the company’s diversified portfolio, prudent balance sheet, and disciplined approach to capital allocation position it well to continue investing in the Philippines. This strategy aims to create long-term value for customers, communities, and shareholders.

The emphasis on physical store expansion and diversified retail formats aligns with broader trends in Southeast Asia, where companies often combine digital strategies with a strong brick-and-mortar presence to capture varying consumer preferences and reach underserved areas. Retailers across the region are increasingly focusing on everyday essentials and adapting their offerings to meet shifting consumer priorities, especially after periods of economic fluctuation.

August 21, 2026
Miniso and 99 Ranch Market Lead US Retail Growth by Prioritising Lifestyle and Community

Asian-rooted retailers Miniso and 99 Ranch Market are achieving significant growth in the United States by focusing on lifestyle connections and fostering a sense of community. The 2026 NRF Hot 25 Retailers list, compiled by Kantar, ranks the nation’s fastest-growing retail companies based on year-over-year domestic sales, with both brands making a notable impact.

Miniso, a global lifestyle product retailer known for its affordable and aesthetically pleasing goods, secured the top spot at No. 1 on the list. 99 Ranch Market, an Asian supermarket chain, also featured prominently at No. 15. Their inclusion underscores a broader retail strategy: turning consumer lifestyle choices into deep-seated loyalty.

Building Loyalty Through Experience

According to Dave Marcotte, a senior vice president at Kantar, Miniso embodies the lifestyle approach in nearly all its operations. The brand’s ability to resonate with consumers on an emotional level, offering products that align with contemporary tastes and trends, is a key driver of its rapid expansion.

Similarly, 99 Ranch Market differentiates itself through its superior offerings. Marcotte highlights the supermarket’s produce, bakery, and prepared foods as being significantly ahead of traditional chain grocers. The presentation and quality of goods are compelling enough to convert first-time visitors into loyal customers, creating a strong emotional connection.

The Value Of Belonging In Retail

The NRF Hot 25 Retailers list emphasises that in an increasingly complex world, a sense of belonging is vital. Retailers that successfully provide this, alongside value and convenience, are seeing stronger customer loyalty. This trend extends beyond Asian-rooted brands, with convenience store chains like Casey’s General Stores (No. 13), QuikTrip (No. 20), and Wawa (No. 24) also making the list due to their strong community ties and distinctive offerings.

For retailers in Asia-Pacific, the success of Miniso and 99 Ranch Market offers valuable insights. Many Asian markets are already highly competitive, but these examples show that a clear focus on lifestyle integration and superior product quality can create a distinct market position and drive exponential growth. Brands across the region, from local startups to established players, are continually seeking ways to deepen consumer engagement and foster loyalty beyond just transactional interactions.

August 21, 2026
Korea’s Retail Sales Surge 9.2% in March: Strong Consumer Demand Boosts Growth
South Korea’s Retail Sector Sees 9.2% Growth Amid Rising Online Sales

In a marked turnaround, South Korea’s retail industry experienced a remarkable 9.2% year-on-year growth in March 2025, driven by a surge in online shopping. While brick-and-mortar stores faced challenges, the digital marketplace thrived, particularly in food and essential services.

Digital Sales Propel Retail Growth

According to the latest data from the Ministry of Trade, Industry, and Energy (MOTIE), online sales soared by an impressive 19.0%. This shift highlights changing consumer patterns, as shoppers increasingly turn to e-commerce for their purchasing needs. In contrast, traditional offline sales reported a slight decline of 0.2%.

Despite the overall positive growth, not all retail segments fared well. Both hypermarkets and department stores recorded declines, with drops of 0.2% and 2.1%, respectively. Categories like fashion and home appliances were particularly hard-hit.

Growth in Convenience and Supermarkets

Amid the fluctuating landscape, convenience stores and supermarkets bucked the trend with notable gains. Convenience store sales increased by 1.4%, while super supermarkets enjoyed a robust growth of 3.6%, driven by local shopping preferences that continue to dominate the market.

Strong Demand for Food and Services

Online sales significantly benefited from the rising demand for food products, which climbed by 19.4%. Additionally, services experienced a staggering 78.3% boost, largely due to an increased reliance on food delivery and online orders. However, fashion and sports categories struggled, witnessing declines of 4.7% and 10.1%, respectively.

Notably, back-to-school shopping stimulated demand for home appliances and consumer electronics, which rose by 7.8%. The cosmetics sector also saw a growth of 7.5%, thanks to ongoing online sales momentum.

Implications for Consumer Trends

The retail landscape in South Korea is evolving rapidly, with online sales playing a pivotal role in shaping consumer trends. As digital shopping continues to expand, it presents significant opportunities and challenges for retailers, necessitating adaptations to meet the shifting preferences of consumers.

As the retail sector navigates these changes, the potential for sustained growth remains promising, particularly for brands that embrace innovation and enhance their online presence.
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May 8, 2025
Online malls lead South Korea retail growth

South Korea retail sales inched up 0.7 per cent year on year last month with online malls outshining brick-and-mortar stores, government data shows.

Sales for 13 online stores and marketplaces jumped 21.6 per cent, according to the Ministry of Trade, Industry and Energy, which did not disclose sales figures.

At the same time, sales for 13 offline retailers, including department stores and discount chains, fell 9.2 per cent. Convenience stores were the only bright spot, posting 9.8 per cent growth.

Online malls saw sales soar 25.5 per cent, attributed to people being attracted by online grocery shopping offering fast delivery service.

Online marketplaces also surged 20.4 per cent, with an increase in third-party sellers in the electronic and home-appliance sectors.

February 28, 2018
Japan’s Q3 growth twice as fast as first estimated, outlook brightens

Japan’s economy grew twice as fast as originally estimated in the third quarter thanks to big gains in capital expenditure, revised data showed on Friday, with expansion seen to continue thanks to buoyant exports.

The capital expenditure component of gross domestic product was revised to a rise of 1.1 percent from the previous quarter, well over the forecast 0.4 percent growth, and soaring above the preliminary 0.2 percent reading.

The economy grew an annualized 2.5 percent in July-September, more than the median estimate for 1.5 percent annualised growth and more than the preliminary reading of a 1.4 percent annualised expansion.

Real wages rose in October for the first time in almost a year, offering some hope that consumer spending will pick up, separate data showed.

The revised figures showed that Japan is in its longest uninterrupted period of growth since comparable data became available in 1994.

This is a boon to the government as it is expected to agree later on Friday a spending package to subsidise education and encourage more corporate investment.

“The economy is doing well, but annualised growth above 2 percent seems a little too quick,” said Norio Miyagawa, senior economist at Mizuho Securities.

“I expect that exports and capital expenditure will lead growth next year, but the pace will moderate to around 1 percent.”

The figure translates into quarter-on-quarter growth of 0.6 percent, versus a preliminary reading of 0.3 percent growth and the median estimate for 0.4 percent growth.

Steady economic expansion also offers hope to the Bank of Japan that inflationary pressure will build up next year and nudge consumer prices closer to its 2 percent inflation target.

Capital expenditure was revised up because wholesale companies and retailers are increasing investment to deal with increased inbound tourism, a Cabinet Office official told reporters.

Inventories contributed 0.4 percentage point in the third quarter, which was revised up from a preliminary 0.2 percentage point contribution, due to a build up of chemicals and plastics used in manufacturing, the official said.

Net exports contributed 0.5 percentage point in the third quarter, unchanged from the preliminary reading.

Private consumption fell 0.5 percent in July-September, also unchanged from the preliminary reading.

Real wages rose 0.2 percent in October marking their first rise since December 2016 in a sign a tight job market may finally be leading to higher salaries.

Japan’s economy has expanded for seven consecutive quarters, and many economists expect growth to continue as consumer spending gains strength and export growth is seen on track to continue.

December 8, 2017
Asia leads global retail growth

Asia’s grocery retail market will be significantly boosted by a rising population and increased shopper spend, with consumer spending in the region accounting for nearly half of additional sales generated to 2022.

Global growth will be driven by several factors including inflation, population growth and increased consumer spending on grocery products, IGD said.

Key findings from IGD’s global grocery forecasts to 2022 include:

• Asia’s grocery market will add US$1.2 trn in sales, which is more than Africa, Europe and Latin America combined, and will enjoy a compound annual growth rate (CAGR) of 6.6 per cent
• With a CAGR of 4.2 per cent, Europe is set to benefit from the biggest increase in shopper spend, driven by countries in Central and Eastern Europe (CEE)
• North America will add almost US$100bn to its grocery retail market by 2022
• Latin America’s market will be dominated by Brazil and Mexico, accounting for nearly 10 per cent of sales

Commenting on the latest forecasts, Jon Wright, head of retail Insight, IGD, said: “Our new global grocery forecasts reveal a positive outlook for the sector as we predict that most regions will experience faster growth to 2022 than forecast in 2016, representing excellent opportunities for retailers and manufacturers.

“However, an awareness of the underlying causes of growth in each region is key. Despite it being set to experience the strongest uplift, growth in Africa’s grocery market will be primarily driven by inflation rather than increased consumer spend. The most attractive and sustainable growth opportunities are in markets where sales increase will be due to population growth or consumers spending more money – for example, Asia, Latin America and North America.”

On Asia, Wright said: “With China, India and Japan all in our top five, Asia’s grocery market continues to be in rude health thanks to growing populations and shoppers with more disposable income. Innovations in this market also continue apace, especially in China, where retailers are experimenting to drive the online and convenience channels.”

November 23, 2017
Korean online mall sales lose traction
South Korean online mall sales growth has decelerated as competition grows more fierce, government data shows.

There was a 3.6 per cent increase in the combined revenue of 26 offline and online retailers to 10.22 trillion won (US$9 billion) in July, according to the Ministry of Trade, Industry and Energy. This gain marks a deceleration from 7.2, 6.3 and 7.2 per cent growth posted in April, May and June respectively.

The slowdown is attributed largely to fewer sales on online open markets such as eBay and 11st.

Sales at 13 major online shopping malls rose 4.4 per cent last month, following double-digit growth for five straight months since February. Meanwhile, the sales of the 13 offline retailers, including department stores, discount chains and convenience stores, rose 3.2 per cent on-year on the back of strong performance by convenience stores.

Convenience stores saw their sales rise 11.1 per cent last month, with hypermarket chains posting 1.7 per cent growth and department stores having a 1.3 per cent revenue slide.
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September 8, 2017
Lowest growth in decade for China retail sales
For the first time in 11 years, China retail sales growth has slipped below 10 per cent.

With market expectations of a 10.6 per cent rise, official data shows sales for the first two months this year increased by only 9.5 per cent.

The National Bureau of Statistics (NBS) attributes the slower growth to cooling auto sales, which fell 1 per cent from a year earlier after purchase tax for small cars was increased from 5 to 7.5 per cent this year. With the auto sales factor deducted, China’s retail sales expanded 10.2 per cent during the period, flat compared with the increase in the same two months last year.

Consumer goods retail sales totalled 5.8 trillion yuan (US$840 billion) during the period, NBS data shows.
There was strong consumption potential in rural areas, with retail sales expanding 11.8 per cent during the period, outpacing urban regions where sales were 9.2 per cent up.

However, online sales continued growing strongly, surging 31.9 per cent in the two months to 858 billion yuan.
As a main driver of economic growth, consumption contributed to 64.6 per cent of China’s GDP growth last year.
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March 17, 2017
The ‘Thai goods’ era’ has arrived
Vietnamese manufacturers’ biggest rival is Thailand, experts say. The country exports a wide range of goods, from chicken to slippers, from cosmetics to electric cookers.

Most recently, Central Group has acquired Big C at the price of $1.04 billion

Figures show the flood of Thai goods in the Vietnamese market.

1.Vietnam spends $8.2 billion, or VND180 trillion to buy Thai goods, from slippers to cars.

According to the General Department of Customs (GDC), the turnover of imports from Thailand increased by twofold from $4.5 billion in 2009 to $8.2 billion in 2015.

Of this, the petroleum imports from Thailand increased from $590 million to $1.16 billion.

The other products which also witnessed sharp increase in import turnover were computers, paper and electronics.

Though Vietnam is an agricultural country which has big advantages in producing tropical fruits, it still imports fruits from Thailand in large quantity. The fruit import turnover increased during that time.

Vietnam also imports steel, precious metal, chemicals, machines, household use electrical products and pharmaceutical drugs from Thailand.

2.Thailand is a big vehicle exporter to Vietnam.

In 2015 alone, Vietnam imported 25,136 vehicles from Thailand. If counting car parts, Vietnamese spent $1 billion to buy cars and car parts from the country. By the end of 2015, Thailand ranked fourth among the biggest car exporters to Vietnam, after China, South Korea and India.

In the first quarter of 2016, Vietnam imported 19,700 cars from all markets, including 7,814 cars from Thailand, a sharp increase of 64.5 percent compared with the same period last year.

3.Vietnam is Thailand’s seventh biggest importer.

According to Thai agencies, the two-way trade turnover between Vietnam and Thailand in 2013 was $439 million. The figure is expected to increase to $15 billion by 2020.

Vietnam is the seventh biggest importer for Thailand, while Thailand is the 10th ASEAN largest investor with 300 projects under implementation in Vietnam.

3.Thai businesses have completed a series of merger and acquisition (M&A) deals in Vietnam.

In 2012, BJC group of the Thai billionaire Charoen Sirivadhanabhakdi spent 1 billion baht, or VND656 billion, together with Mongko, opening a supermarket to distribute Thai goods in Vietnam, Laos and Cambodia.

In early 2013, BJC took over the retail chain developed by Vietnamese Phu Thai Group and Japanese Family Mart and renamed the chain B’s Mart.

In August 2014, BJC spent 655 million, or $879 million, to buy Metro Cash & Carry Vietnam.

In September 2014, the Thai billionaire decided to spend 1 billion baht, or VND650 billion, from now to 2018 to expand 205 B’s Marts in Vietnam.

In January 2015, Power Buy, belonging to Central Group, bought 49 percent of Nguyen Kim home appliance chain’s stake. It is also the owner of Robins chain in Vietnam.

Most recently, Central Group has acquired Big C at the price of $1.04 billion.
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May 17, 2016
Consumer markets drive property retail growth in Philippines

Retail opportunities are growing in Southeast Asia’s property sector due to the region’s strong consumer market, particularly in populous countries such as the Philippines and Indonesia, according to a report by global real estate services firm Jones Lang Lasalle.

JLL head of research for Southeast Asia Dr. Yang Liang Chua noted that the recent real estate deals made in the region highlight the confidence of investors in the potential of retail opportunities in Southeast Asia.

Some of the transactions cited by Chua include Alibaba’s taking a majority stake in Singapore-based Lazada.com, Chinese online computer retailer JD.com creating a sub-domain for Indonesia, and the expansion of SM Mall of Asia in the Philippines, which could become the world’s largest mall with an estimated gross floor area of more than 600,000 to 700,000 square meters.

Chua noted that retail opportunities are particularly the strongest in Indonesia and the Philippines due to their growing urban population.

“Jakarta and Manila have more than 140 million and 45 million urbanites, respectively, and are expected to grow at an average of 0.9 to 3.2 million people per annum between now and 2025,” Chua noted.

Aside from the growing population, Chua said both Jakarta and Manila possess highly literate young adults, with literacy rates at 94 and 96 percent, respectively.

“Continual urbanisation with a young and educated population will support economic growth in these cities,” Chua said. “As individuals accumulate wealth and income grows, discretionary spending is likely to increase and drive both online and physical retail demand.”

Chua noted that the emergence of foreign brands in Manila and Jakarta are a testament to retailers’ confidence in these two consumer markets.

In a separate report, Cushman and Wakefield agreed with Chua’s observations, noting that Manila’s retail sector is being fuelled by the entrance of foreign brands into the country.

“Robust activity due to healthy domestic consumption on the back of higher income from remittances and the BPO industry,” Cushman and Wakefield said.

In another report, global real estate advisor CBRE noted that the expansion of both local and foreign retail brands in the Philippines are driven by strong household consumption and steady growth in remittances from overseas Filipinos.

“Taking advantage of the robust demand from consumers and seeing this continuing, developers have been announcing their retail expansion plans which are expected to traverse in the coming quarters,” said CBRE

However, Chua noted that despite the huge potential of the Southeast Asian retail market, the region faces several challenges when it comes to e-commerce, citing the weak infrastructure and low network-readiness in most countries except for Singapore and Malaysia.

“Governments could liberalise and invest more into their Information and Communication Technology industry and infrastructure, and adopt national logistics policies that focus not only on physical transportation but issues faced by traders and logistics service providers, to help facilitate the growth of e-commerce in SEA,” Chua concluded.

May 11, 2016