Retail in Asia

In Trends

3 in 5 Southeast Asia markets post strong growth in technical consumer goods

Technical consumer goods (TCG) in Indonesia, Malaysia and Thailand continue to expand in the fourth quarter of 2012, making them the three fastest growing markets, GfK’s latest report showed.

The three countries grew of 15, 15 and 12 percent, respectively, in the full year of 2012.

GfK noted the exponential value growth of 31 and 21 percent in Thailand and Indonesia’s fourth quarter TCG markets, respectively, helping the countries grow 12 and 15 percent in terms of overall annual sales over the previous year.

Malaysia’s final quarter’s 4 percent value expansion managed to help sustain the country’s 15 percent annual growth to retain its position as second highest growth market for the year.

Stanley Kee, Managing Director for GfK in Southeast Asia, noted that the highest individual country growth registered for the consumer electronics, major domestic appliances, and Information Technology sectors across the region in 2012 all hailed from Indonesia.

Throughout the year, six of the seven sectors tracked in the fourth most populous country of Indonesia attained positive standings in the growth range of 2 to 31 percent. Malaysia on the other hand saw five panels expanding in values between 7 to 32 percent.

GfK said the good performance of the telecommunications sector shows no signs of receding as it continues to be the top driver of growth in Singapore (45 percent), Malaysia (32 percent) and Thailand (27 percent). Unrelenting demand for tablets have also propelled the IT sector to achieve good results in countries like Indonesia (31 percent), Thailand (13 percent) and Malaysia (11 percent).

GfK TEMAX (Technical Market Index) is a comprehensive index to track Technical Consumer Goods markets in more than 30 countries worldwide and is designed to support decision makers from Industry and Retail in obtaining substantiated facts about their markets.