Asia Council, 2005: In the rapidly changing Asian markets, a retailer’s fresh food offer is one of the most critical success factors and a key competitive differentiator. Fresh food categories are the critical store traffic and shopping frequency drivers that attract consumers and create additional opportunities for retailers to engage with their customers in other grocery categories. In fact, more than 50% of Asian consumers’ food bill is spent on fresh food categories, and this spending increases at 2.6% a year. Indeed, not only will Asian consumers be spending more on food, but there will also be hundreds of millions more consumers – an estimated 700 million new Asian consumers by 2020. Thus, the retail industry faces twin challenges: keeping more consumers supplied as well as satisfying their changing tastes and preferences. This study identifies the future needs and expectations of Asian consumers across key Fresh Food categories, and creates a platform to drive Fresh Food retail excellence in the Asia Region.
The Fresh Imperative: Creating Excellence in Asian Fresh Food Retailing
Asia Pacific, 2005