Three key consumer goods market in SEA rise in Q3

According to the latest data from GfK Asia, the developing markets of Indonesia and Malaysia continue to post strong results in their technical consumer goods (TCG) sector. Along with Thailand, the three are strongest performing markets across Southeast Asia in Q3, turning in overall positive showings in the range of 9-14 per cent, added the market research firm.

Indonesia has taken over Malaysia's top position in Q2 as the country with the highest TCG market growth with its 14 per cent growth achieved in the latest quarter. Nevertheless, Malaysia still managed to attain a robust double digit expansion of 10 per cent, trailed by Thailand that saw its TCG sector grow by nine per cent YoY.

However, Q3 GfK TEMAX findings for Indonesia reported positive performances ranging from 1-34 per cent growth in six of the seven TCG segments tracked, pushing the country up the leadership board. Meanwhile, four in seven segments of the Malaysian market generated exponential growth between 11-30 per cent in Q3.

Telecommunications continue its good showing in the region. At a whopping 51 per cent, Singapore's telco market boasted the highest growth level attained across the board. Driven by the heightening sales of smartphones, the segment is also experiencing rapid expansion in the developing markets of Thailand and Malaysia, which generated 29 and 26 per cent incremental sales, respectively.