Greatest Reasons Why You Should Consider Doing Business in Asia

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Research December 22nd, 2022

Greatest Reasons Why You Should Consider Doing Business in Asia

Known for having the largest population in the world, Asia is undoubtedly one of the places on Earth that offers millions of opportunities waiting to be taken. And aside from being the most populous continent in the world, it also houses some of the world’s most diverse and vibrant economies which is a dream for a lot of western brands looking for untapped markets for business expansion.

But why is it really a good idea to start doing business in a place with such a strong economy? Here are some reasons why you should consider doing business in Asia.

people walking in a market — Photo by Markus Winkler on Pexels.com

It is the second-largest consumer market in the world

A larger consumer market means a larger profit margin. Being the world’s “second-largest consumer market” might not be a big deal for some, but it can’t be denied that market size is a strong indicator that determines a business’s potential to grow. So entering such a market gives any business an assurance that there will be at least someone purchasing their products.

woman holding red lantern — Photo by Quang Nguyen Vinh on Pexels.com

It has shown an amazing economic growth

Over the past decades, the region has witnessed significant economic growth and has become a hot spot for competitive and innovative businesses. And this is good news for business owners looking to penetrate the market as high economic growth means higher profitability, and higher profitability gives a higher chance of achieving success.

smiling ethnic shoppers choosing vegetables near unrecognizable seller in market — Photo by Sam Lion on Pexels.com

It is business-friendly

Compared to a lot of places in the world, Asia has a very business-friendly environment not just for local brands, but also for international investors. Except for two or three countries, Asia assures business owners that it will be easy to establish their own business without having to worry about gaining full ownership as a lot of countries from this region allows 100% foreign business ownership.

men working modern using electronic devices — Photo by Mikhail Nilov on Pexels.com

It houses a lot of skilled local talents

There is an old saying that goes “Knowledge is power”, and it has always been true for a lot of things, especially for business. And Asia is known for having a lot of local talents that excel in a lot of fields. Hiring these people can be of great benefit to your business because the more your employees know, then the more your business can grow.

Fashion retail is an ever-evolving industry that is impacted by various factors such as social, technological, and economic changes. The rise of e-commerce, the increasing popularity of sustainable fashion, and the need for personalization are just some of the trends that are shaping the fashion retail industry in 2023 and beyond.

Online Shopping is still the preferred way to shop post-pandemic

One of the key emerging fashion retail trends is the growth of online shopping. With the rise of e-commerce platforms, more and more consumers are opting to shop for fashion items online, resulting in a significant increase in online sales.

Brands are now investing in their digital presence, creating engaging e-commerce websites, and utilizing social media platforms to reach their target audience. Online shopping has also made it easier for consumers to compare prices and find the best deals, leading to increased competition among fashion retailers.

Caring for the environment is cool

Consumers are becoming increasingly aware of the environmental impact of fast fashion and are looking for brands that prioritize sustainability in their production processes. Brands are now turning to more environmentally-friendly materials and production methods, as well as using packaging that is recyclable and biodegradable.

Personalization is Important

Consumers are looking for clothing and accessories that are customized to their individual preferences and styles. Brands are now using technology, such as augmented reality, to allow customers to virtually try on clothing and accessories before making a purchase. Personalization has also been incorporated into the production process, with brands offering made-to-measure clothing and accessories.

In conclusion, fashion retail is constantly evolving, with new trends emerging every year. The rise of e-commerce, the growing popularity of sustainable fashion, and the need for personalization are just some of the trends that are shaping the fashion retail industry in 2023 and beyond. Brands that are able to adapt to these trends and provide consumers with what they want will be the ones that succeed in the highly competitive fashion retail market.

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Beauty January 31st, 2023

The Direct-to-Consumer (DTC) beauty and fashion industry in the United States is booming, but there’s still room for growth.

One potential market that’s attracting attention is Southeast Asia. Here are four reasons why US DTC beauty and fashion brands should invest in this region.

Reason 1- Growing middle class: Southeast Asia has a growing middle class, with a population of over 600 million people and an increasing purchasing power. This presents a huge opportunity for US DTC brands to tap into a new market and reach a wider audience.

Reason 2 – Digital penetration: The region has high digital penetration, with a large percentage of the population active on social media and e-commerce platforms. This provides a convenient platform for US DTC brands to reach potential customers and showcase their products.

Reason 3 – Cultural influence: Southeast Asia is known for its vibrant and unique beauty and fashion culture, making it an ideal place for US DTC brands to test new products and gain insight into local preferences.

Reason 4 – Strategic location: Located at the crossroads of Southeast Asia, it serves as a hub for international trade and commerce, making it easier for US DTC brands to reach other markets in the region. With its strong transportation infrastructure and favorable government policies, Southeast Asia is an attractive place for foreign investment.

In conclusion, the Southeast Asia region offers a compelling opportunity for US DTC beauty and fashion brands to reach a new market, tap into the growing middle class, and expand their brand’s reach. By investing in this region, US DTC brands can take advantage of its digital penetration, cultural influence, and strategic location, and reach new heights in their global growth strategy.

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Market Updates January 26th, 2023

What US Brands Need to Know to Succeed in Southeast Asia’s Digital Market

For US brands looking to expand their reach and tap into new markets, Southeast Asia is an increasingly attractive option. With a population of more than 650 million and a rapidly growing digital economy, Southeast Asia holds great potential for US brands looking to grow their presence in the international market.

However, before investing in Southeast Asia’s digital market, there are a few key points that US brands need to consider.

First, US brands should understand the local markets and cultures in the region, and tailor their digital strategies to suit the needs and preferences of the local consumer. For example, US brands should ensure that their digital campaigns are customized to suit the language and culture of the target market.

Second, US brands should also be aware of the different digital platforms in Southeast Asia, and how they can be used to effectively engage with consumers. Internationally known social media platforms such as Facebook, Instagram, and Twitter are very popular in the region and can be used to effectively reach out to potential customers. However, US brands should also consider investing in e-commerce platforms, such as Shopee and Lazada, which are arguably more popular than Amazon and eBay in the region.

Third, US brands should also take into account the different regulations in Southeast Asian countries when it comes to data protection and privacy. For example, Singapore, Malaysia, and Thailand all have specific laws and regulations in place to protect consumer data. US brands should ensure that their digital strategies are compliant with local regulations.

Finally, US brands should also be aware of the competition in the region. Southeast Asia is home to numerous established local brands, and US brands will need to differentiate their products and services in order to stand out in the market. It is important for US brands to develop a unique brand identity and create an engaging digital experience that resonates with consumers.

In conclusion, US brands looking to succeed in Southeast Asia’s digital market will need to take into account the local culture, understand the digital platforms in the region, comply with local regulations, and differentiate their brands from the competition. By doing so, US brands will be well-equipped to tap into the potential of Southeast Asia’s digital market.

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