Interview with Todd Kurie, Vice President Marketing, RedMart
How would you define the current momentum of the retail sector in Asia?
Overall, quite favourable. Although there are challenges to be sure, the bottom line is that incomes across the region are generally increasing and modern retail trade formats are catching on.
Where are the growth areas for the retail sector in Asia?
Geographically, just about all markets, particularly Vietnam, Indonesia, Philippines, and the other larger emerging markets. And by format, mobile commerce, even though it is in its infancy, I think it will be the way many people shop in 5-10 years.
What are the challenges and issues?
Payments, definitely, as credit card ownership is still relatively low. And internet connectivity as well for many people. But these are gradually being resolved and again in 5-10 years, I think we will see a huge shift towards modern trade in general and e-commerce/m-commerce in particular.
Todd Kurie has over twenty years of broad marketing experience, the last ten focused on the marketing of consumer ecommerce services. He is currently VP Marketing for Singapore-based online grocery service RedMart, and has previously worked for startups Binaries.com (financial trading), ChipIn (payments), Xoom (money transfer) and eBay.