Retail sales growth rate (2017–2023)
Sources: Euromonitor; National Bureau of Statistics of China; Bain analysis
Pre-Covid
During Covid
Post-Covid
12%
6
3
0
–3
9
2018
2017
2019
2021
2020
2022
2023
59
%
26
%
34
%
Asia-Pacific's share of global growth
Asia-Pacific
World
World excluding Asia-Pacific
Asia-Pacific is rebounding post-Covid to become a major growth engine again
Yet executive teams across the region
still face six near-term challenges
1
2
3
5
6
Navigating overcapacity
and intensified competition
Securing returns from past investments in technology and data
Transitioning from "growth at all costs" to profitable growth
Reenergizing
a fatigued workforce
Seizing M&A opportunities
as deal flow rebounds
Finding funds for new investments amid profit pressure
4
Winning playbooks will adapt
to the new era’s strategic imperatives
Reinvigorate
teams
through an authentic shared purpose
Sharpen
differentiation
and shift to customer lifetime value tracking
Unlock new
productivity gains
via data analytics
and automation
Sweat physical
assets
and revisit asset investment plans
Boost economies
of scale
through M&A
Expand faster
"beyond retail"
for growth
outside the core
Refocus capability building
on transformative technology
Priority responses will vary by country, reflecting local growth and disruption
Medium priority
High priority
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Thailand
Vietnam
Reinvigorate
teams
Sharpen differentiation
Expand faster "beyond retail"
Refocus
capability
building
Sweat
physical
assets
Unlock new productivity
gains
Boost
economies
of scale
Expand faster "beyond retail"
Refocus
capability
building
Boost
economies
of scale
Unlock new productivity
gains
Sweat
physical
assets
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Refocus
capability
building
Expand faster "beyond retail"
Boost
economies
of scale
Sweat
physical
assets
Unlock new productivity
gains
Sharpen differentiation
Reinvigorate
teams
Australia
Asia-Pacific is rebounding post-Covid to become a major growth engine again