Geotech Information Services: Aussie brands see SE Asia as the next frontier for growth
As options for retail growth in the country continue to be hampered, Australian brands are looking to foreign shores for business expansion, says Geotech Information Services.
And the one of the most promising regions these days is Southeast Asia (SE). In recent years, Geotech has seen Australian retailers' interest in expanding to SE markets increase significantly.
Aside from its proximity, the region has a two things going for it that attracts Aussie investors: large population bases and a burgeoning middle class.
Some major QSR brands have been aware of this for a while. That's why some of them have already established themselves in SE Asia years ago. One of the important things they've learned is the need to adapt and cater to local tastes. Items on the menu, for example, reflect local--not Australian--appetites.
There are two major drivers of QSR purchases, according Geotech. One is the presence of disposable income in an area. Many SE markets today have income and vehicle ownership per capita growth that is 2 to 4 times that of Australia. Given this potential for growth there, the QSR industry can explore the development of different store formats aside from the traditional shopping centre and shopping strip places, such as drive-thru locations..
For more information on what data, mapping and consulting is available to assist with network planning within South East Asian markets, contact Geotech Information Services on (03) 9544 0440 or via email: [email protected].
