Malaysia and Vietnam continue to Head Growth of the Southeast Asia’s Technical Consumer Goods Market in First Quarter of 2012: GfK Asia
The developing economies of Malaysia and Indonesia were the two key growth markets across Southeast Asia registering strong first quarter growth in the Technical Consumer Goods (TCG) market. While the rest of the region, namely Singapore, Thailand and Vietnam turned in stabilised performances in quarter one this year; Malaysia and Indonesia continued its growth spurts, reporting healthy 32 and 15 percent value growth over the same period last year.
Malaysia’s excellent showing in the first three months of this year was driven largely by its Telecommunications, Office, Major Domestic Appliances and Information Technology sectors which all expanded in values between 24 to 62 percent, whereas in Indonesia, it was the IT, Consumer Electronic and MDA sectors that showed substantial increase in revenue sales of 18 to 31 percent. (Charts 1 & 2) (Visit www.gfktemax.com for full details of each country’s performance).
“The Malaysia Technical Consumer Goods market had a good start to the year, raking in total value of MYR 5.3 billion with five of the seven sectors managing double digit increases to maintain the country’s position at the top of the quarterly growth leaderboard in the region,” noted Stanley Kee, Managing director of GfK for Southeast Asia. “Second fastest growing market, Indonesia also managed to retain its ranking from the last quarter with its IDR 28 trillion generated sales.”
According to findings from the latest GfK TEMAX reports, while the IT sector which turned in consistent positive results ranging from 4 to 33 percent value growth across all the countries, it was Telco which saw growth rates soaring as high as 50 and 62 percent, as posted by the Singapore and Malaysian markets. Meanwhile, Office Equipment and Consumables in Malaysia also reported an impressive 54 percent sales value increment.
“The Telco and IT sectors are expected to be the two star performers in the TCG market moving forward, thanks to growing popularity of tech gadgets such as smartphones and tablets which are generally seeing rapidly increasing adoption rate in this region,” commented Kee. “The mounting consumer demand for these devices will continue to play a major role in driving the performance of the TCG in the emerging markets of Southeast Asia,” concluded Kee.
GfK TEMAX (Technical Market Index) is a comprehensive index to track Technical Consumer Goods markets in more than 30 countries worldwide and is designed to support decision makers from Industry and Retail in obtaining substantiated facts about their markets. Findings are based on surveys carried out by the retail panels of GfK Asia. TEMAX reports are released on a quarterly basis at macro level for Consumer Electronics, Photo, Home Appliances, Information Technology & Office Equipment, and Telecommunication markets.
The full reports for individual countries are available at www.gfktemax.com. Reports and press releases are published on a quarterly basis in February, May, August and November.
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· Southeast Asian markets surveyed: Singapore, Malaysia, Thailand, Vietnam and Indonesia.
· Survey period: January – March 2012
· Year-on-year comparison: January – March 2012 VS January – March 2011
· Technical Consumer Group covers the following sectors:
- Consumer Electronics (CE) cover audio and visual products such as colour TV, camcorder, audio home system etc.
- Small Domestic Appliances (SDA) are household appliances such as food preparation, rice cooker, iron, vacuum cleaner, shaver, etc.
- Major Domestic Appliance (MDA) covers big household appliances such as cooling (Refrigerator), washing machine, microwave oven.
- Photo includes digital camera
- Information Technology (IT) includes Tablets, Desk Computer, Mobile Computer, and Monitor.
- Office Equipment & Consumables include Printers, Multifunction devices and Ink Cartridges
- Telecommunication (TELCO) covers mobile phone and smart phone.
Chart 1: TEMAX Report for Malaysia