Historically retailers have believed rigid stability and siloed supply chains deliver cost control and end-to-end customer satisfaction. However, this approach is not suited in a post-pandemic world where disruption is the new norm.

Not surprisingly, close to four in 10 Asia Pacific retailers (39%) cite supply chain issues as one of their major concerns, recent research from leading provider of market and consumer data, Statista has revealed.

However, the most impactful disruption has gone largely unnoticed – consumers now hold the balance of power and their choices will make or break companies. Almost three-quarters of executives (73%) agree that the power to dictate market growth lies with consumers rather than the companies, according to those surveyed by Danish integrated logistics company, Maersk and US media company, Bloomberg.

The Maersk research also found that 87% of executives agree businesses need to adapt continuously to keep up with evolving technology and consumer behaviour patterns, while nine in 10 (91%) businesses currently seeing a rise in revenue believe that constant change is a key driver of long-term growth.

In its latest report, Maersk takes the home improvement market segment as a case study. It typically involves multiple higher-value products across categories as diverse as floor coverings and furnishings. And with the home office component, it also incorporates consumer electronics and office equipment like desks and commercial-quality lighting. Most forecasters agree that the APAC home improvement retail market will grow at a CAGR of 3.9%,6 to reach about US$87 billion by 2028.

The report draws insights from Asia Pacific shoppers and shares learnings on three areas and seven competencies that retailers should focus on in their supply chains with actionable advice to leverage logistics as a key growth enabler.

Download the ‘Refocus your supply chain to take the lead’ report now: www.maersk.com/retail-home-improvements-asia-pacific