Asia Innovation Top 30 Trends (English)

ASIAN RETAIL SCENE (English Version)
The Asian retailing industry is undergoing transformative changes. In response to the rapidly evolving digitalization evolution, many physical retailers have adapted to the concept by reinventing and transforming their business models and formats. In this trend preview, we highlight top 6 trends across 4 major Asian countries- Japan, Korea, China, Hong Kong and how these countries are reimagining and repurposing the store environments to become more responsive to customer needs. We explore 30 innovative benchmarks with the very best in creative design and service innovation.

Retailers are transforming its physical retails becoming a “customer care” point of commerce. Physical retails are turning into service hubs that offers alternative services, advisory and customization offering added value services.

The increasing levels of connection are breaking down the barriers with an easier transition between the physical and digital world. Physical Stores are becoming the core part of the digital experience with experiential retail spaces.

Consumerism mindsets are driving new definition of value of ownership, where sharing of resources is making life more affordable, more convenient and efficient. Retailers are offering rental solutions, second hand purchasing in a more luxurious environment.

Today’s Asian consumers are battling with time. With short of time, retailers are offering greater convenience, on the go, all in one, benefits, 24hr services.

Increasing number of retailers are focusing on experiential stores that pay particular attention to service offerings building  emotional engagement with customers delighting all customer types and keep them loyal. Lifestyle retail store formats embrace offline-only experiences, satisfying the customer’s curiosity in a way that online cannot by drawing shoppers away from their digital shopping habits and back again into stores.

Customers are increasingly relying on trusted recommendations to discover and select the right products to meet their needs. Retailers  are offering curated assortments for their customers to attract customers while offering unique experience.

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