SINGAPORE: Interbrand, one of the world’s largest branding consultancies, announced that Malaysia’s Parkson was the second most valuable retail brand in Southeast Asia.
Developed by Interbrand, the ranking of the top five Southeast Asia’s Most Valuable Retail Brands for 2013 saw Singapore’s FairPrice take the number one position.
The other retail brands that made the list were SM Dept Stores (Philippines) at third spot, Indonesia’s Matahari Dept Stores (fourth), and Big C (Thailand) in fifth place.
Parkson, a Malaysian brand that is now available in China, Indonesia and Vietnam, began 25 yeas ago as a brand for ‘everyone, no matter who you are’.
Today, the brand has found success in its online e-catalogs and regular promotions that engage with shoppers.
The global retail industry has seen a tumultuous few years due to lapses in consumer confidence and Southeast Asia is no different.
Across the region and its key markets (Singapore, Malaysia, Indonesia, the Philippines, Thailand and Vietnam), the retail industry has seen tremendous changes over the past few years.
Spurred by spending from middle-class consumers, most markets have seen increasing demand for a range of goods, including grocery, home improvement and fashion – all of which indicate a vibrant, economically active region.
According to PricewaterhouseCoopers, Asia Pacific’s retail sales growth volume is forecast to grow six per cent in 2013, significantly lower than the 9.6 per cent growth recorded in 2010.
While the region remains a top destination for retailers, the path ahead is expected to be fraught with challenges, and some retailers have been more successful than others.
One of the most recent and high-profile exits from the region, for instance, was French brand, Carrefour.
Unable to meet emerging consumer needs through hypermarkets alone, and with no plans to offer new formats, Carrefour closed its outlets in Singapore, Malaysia and Thailand.
Interbrand Singapore managing director, Julian Barrans said, “The brands that make our list have been quick to keep up with shifts in preference and expectations.
“They have adapted to changing market needs while keeping a close eye on what consumers want.” Each year, Interbrand studies what makes retail brands successful and documents their challenges. — Bernama