Retail in Frontier Markets in Southeast Asia: Three Key Trends for 2024

November 2024

This report covers the retail sector in frontier markets in Southeast Asia. Euromonitor International’s definition of the region includes the following countries: Cambodia, Laos and Myanmar.

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Overview:

Understand the latest market trends and future growth opportunities for the Retail industry in Cambodia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in thsi report provides detailed qualitative analysis for the folloiwng regions, with detailed quantitative analaysis provided for all indivdiual countries within the regional groupings:

  • The Baltic States – Estonia, Latvia, Lithuania
  • Frontier Markets in Southeast Europe – Bosnia and Herzegovina, Croatia, North Macedonia, Serbia, Slovenia
  • Central Asia and the Caucasus – Azerbaijan, Georgia, Kazakhstan, Uzbekistan
  • Frontier Markets in South Asia – Bangladesh, Pakistan, Sri Lanka 
  • Frontier Markets in Southeast Asia – Cambodia, Laos, Myanmar
  • Central America and the Caribbean – Dominican Republic, Guatemala, Honduras, El Salvador, Panama, Costa Rica
  • Frontier Markets in South America – Bolivia, Ecuador, Paraguay, Uruguay
  • Frontier Markets in the Middle East and North Africa – Algeria, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Tunisia
  • Frontier Markets in Sub-Saharan Africa – Angola, Cote d Ivoire, Ethiopia, Ghana, Kenya, Cameroon, Tanzania, Uganda

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Grocery Retailers
  • Non-Grocery Retailers
  • Retail E-Commerce
  • Direct Selling
  • Vending

If you're in the Retail industry in Cambodia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Retail in Cambodia report includes:

  • Analysis of key retail trends
  • Detailed segmentation of histroic retail value sales by channel
  • Company and brand market shares (retail value sales)
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Retail in Cambodia?
  • Which are the leading retailers in Retail in Cambodia?
  • How are products distributed in Retail in Cambodia?
  • How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
  • How significant are discounters and private label in Cambodia?
  • To what extent are sales shifting towards digital channels?​
  • What is the long-term outlook for bricks-and-mortar? ​
  • How is macroeconomic and political uncertainty affecting the retail industry?​
  • What types of retailers are seeing the fastest growth in digital sales?​
  • What is the future of retail?

Retail in Frontier Markets in Southeast Asia: Three Key Trends for 2024

Frontier Markets in Southeast Asia: Overview
Chart 1 Retail in Context 2023
Chart 2 Retail in the Context of Frontier Markets in Southeast Asia 2018-2023
Retail in 2023: The big picture
Chart 3 Retail Sales 2018-2028
Myanmar the largest market in the region, but its retail landscape remains ravaged by ongoing military conflict
Chart 4 Retail Channel Breakdown by Country 2018-2023
Retail e-commerce sales see rapid growth, while non-grocery retailers sales decline due to affordability challenges among consumers
Chart 5 Retail Breakdown by Channel 2018-2023
Inflation and cost-of-living concerns remain pronounced
Informal retail continues to dominate in frontier markets in Southeast Asia
International brands recognise the opportunity and are expanding into frontier markets in Southeast Asia
Grocery retailers dominate the retail rankings in frontier markets in Southeast Asia
Chart 6 Top 10 Retail Companies 2018-2023
In an extremely fragmented landscape, Big C Supercenter saw the most significant growth over the historic period
Chart 7 Top Companies by Sales Growth 2018-2023
Grocery retailers offer a modern, clean and functional shopping experience for affluent consumers
Chart 8 Grocery Retailers: Top Companies 2018-2023
Leading non-grocery retailers largely focus on household essentials and affordable products
Chart 9 Non-Grocery Retailers: Top Companies 2018-2023
The nascent retail e-commerce sector is fast-growing but fragmented
Direct selling remains an underdeveloped sector in frontier markets in Southeast Asia
What next for retail?
Chart 10 The Evolution of Retail 2018-2028
Chart 11 Absolute Growth by Channel 2018-2028
Cambodia stands positioned as the most promising retail market in the region
Chart 12 Retail: Country Sizes and Growth by Channel 2018-2028
Retail e-commerce sales growth is expected to accelerate over the forecast period, but grocery retail will continue to dominate the landscape
Chart 13 Retail: Channel Sizes and Growth by Country 2018-2028
Cambodia
Chart 14 Cambodia: Company Shares of Grocery Retailers
Chart 15 Cambodia: Grocery Retailers Channel Breakdown 2023 and % CAGR 2018-2023
Chart 16 Cambodia: Company Shares of Non-Grocery Retailers
Chart 17 Cambodia: Non-Grocery Retailers Channel Breakdown 2023 and % CAGR 2018-2023
Laos
Chart 18 Laos: Company Shares of Grocery Retailers
Chart 19 Laos: Grocery Retailers Channel Breakdown 2023 and % CAGR 2018-2023
Chart 20 Laos: Company Shares of Non-Grocery Retailers 2023
Chart 21 Laos: Non-Grocery Retailers Channel Breakdown 2023 and % CAGR 2018-2023
Myanmar
Chart 22 Myanmar: Company Shares of Grocery Retailers 2023
Chart 23 Myanmar: Grocery Retailers Channel Breakdown 2023 and % CAGR 2018-2023
Chart 24 Myanmar: Company Shares of Non-Grocery Retailers 2023
Chart 25 Myanmar: Non-Grocery Retailers Channel Breakdown 2023 and % CAGR 2018-2023

DISCLAIMER

Retail

Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.

See all of our definitions
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This report originates from Passport, our Retail research and analysis database.

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