Ритейлеры Юго-Восточной Азии переходят от арендной аудитории к собственным экосистемам

Southeast Asia, a region defined by diverse markets, rapidly changing consumer behaviour and a mobile-first population, has always created some of the world’s most dynamic retail opportunities. But today, the biggest challenge for many retailers is not simply reaching customers. It is being discovered in the first place. Algorithms increasingly decide what consumers see, what they engage with and, ultimately, what they buy. Across marketplaces, social commerce platforms and digital ecosystems, the customer journey is no longer a straightforward path from awareness to consideration to purchase. It is a constantly shifting stream of recommendations, content, reviews and personalised prompts. For retailers, the question is no longer only “How do I sell online?” It is “How do I become visible inside the discovery systems customers now rely on every day?” This is the commercial reality shaping the conversation at the inaugural iMedia Retail Summit Southeast Asia 2026, where the theme Retail Reimagined: Reclaiming Growth in the Algorithm Economy will bring together senior industry leaders to examine how retailers can compete in a market where the algorithm has effectively become the storefront. For Muliadi Jeo, CTO at Sirclo, founder of ICube and Day 2 keynote speaker at the Summit, the shift is fundamental. “What has changed is not only the channel, but the customer journey itself,” he says. “Before, retailers could rely on location, brand recall, distribution or advertising reach. Today, discovery is increasingly shaped by algorithms.” The implications are significant. Consumers are no longer browsing in traditional ways. Instead, platforms are continuously learning from behaviour – what people watch, click, compare and purchase – and using that information to determine what appears next. The result is a retail environment where having the right product is only part of the equation. Retailers must also understand visibility: How content performs, how reviews influence ranking, how pricing affects conversion, how fulfilment impacts platform preference and how customer engagement strengthens long-term value. In other words, success is increasingly engineered inside the systems that determine discovery. The new retail real estate For many retailers, marketplaces such as Shopee, Lazada and TikTok Shop have become essential growth engines. But the relationship between retailer and platform is more complicated than just opening a digital store. Jeo argues that one of the biggest misconceptions is treating marketplaces like shopping malls. “Many brands think that once they open a store inside the marketplace, they own their audience the same way they would inside a physical mall,” he says. “But a more accurate analogy is that marketplaces are more like department stores. Brands are not really owning the customer relationship; they are consigning their products into someone else’s retail environment.” That distinction matters because retailers can influence their visibility through promotions, advertising, content quality, reviews, pricing and operational performance. But they cannot fully control the rules determining what gets prioritised. Rather, the platform ultimately decides what delivers the best outcome for its own ecosystem. This creates a growing challenge: Retailers are increasingly competing not only against other brands, but within a system where attention itself is becoming a scarce and expensive resource. The rising cost of being seen The economics of visibility have changed dramatically. Customers are consuming more content than ever, but brands are competing for attention against a much wider set of distractions – creators, entertainment, influencers, social conversations and competing products. At the same time, technology has made content creation faster and cheaper, which creates a paradox: Content is easier to produce, but meaningful attention is harder to earn. For Jeo, the winners will not be the retailers producing the highest volume of content: “They will be the brands that can combine authenticity, entertainment, relevance and commerce.” That means moving beyond traditional campaign thinking, he counsels. Retailers need to create content that educates, entertains and builds trust. Short-form video, live commerce, creator partnerships, customer reviews and community engagement are becoming central parts of the retail experience. The brands that succeed will increasingly operate like media companies – continuously testing, learning and adapting – while maintaining a clear identity beyond chasing algorithmic performance. From rented audiences to owned relationships The growth of marketplaces and social commerce does not mean retailers should abandon these channels. In Southeast Asia, particularly in markets such as Indonesia, they remain powerful acquisition engines. But acquisition is not the same as ownership. Jeo believes retailers need to use platforms to reach customers while simultaneously building their own ecosystems. “The long-term goal is simple: Acquire customers wherever they are, but build the relationship where the brand has control.” That means investing in first-party data, loyalty programmes, CRM, communities, apps, websites and offline experiences that allow retailers to understand customers beyond a single transaction. The strongest retail businesses are those that can turn discovery into a relationship, a challenge increasingly important as acquisition costs rise and dependence on paid visibility grows. The operational challenge behind the algorithm While the customer-facing experience may appear to be about content, social commerce and digital engagement, the capability required behind the scenes is much broader. Retailers need stronger data capabilities, more connected systems and greater operational agility. The brands winning in the algorithm economy understand what customers are responding to, which products are gaining momentum, where friction exists and how behaviour changes across channels. Inventory accuracy and fulfilment are also becoming critical. A product can gain enormous visibility online, but if the retailer cannot deliver quickly and consistently, the opportunity disappears. For many Southeast Asian retailers still managing separate systems across stores, warehouses, marketplaces and digital channels, creating this connected operating model remains a major challenge. The same applies to customer feedback. Reviews, comments and social conversations now provide real-time signals about what customers want and where retailers are falling short. The ability to capture those signals and act on them is becoming a competitive advantage. A new opportunity for agile retailers While the algorithm economy creates challenges, it also creates opportunities – particularly for emerging brands, says Jeo. Smaller retailers often have fewer legacy constraints. They can experiment faster, respond to trends more quickly and build closer relationships with customers. A strong product combined with authentic storytelling and effective execution can create growth opportunities that would have been difficult to achieve through traditional retail models. But winning attention is only the first step in scaling up. Sustaining growth requires discipline around inventory, fulfilment, customer experience, technology and data. The retailers pulling ahead are those that understand both creativity and operational excellence. The decision retail leaders cannot delay The next phase of Southeast Asian retail will not be defined by whether brands participate in marketplaces or digital channels. It will be defined by how effectively they balance reach with ownership. Retailers cannot ignore platforms. But they also cannot rely on rented audiences indefinitely. “The future belongs to retailers that can use platforms for reach, but use their own ecosystem to build relationships, loyalty and long-term growth,” Jeo says. That requires a fundamental shift in mindset – from product-first and channel-first thinking towards customer-first, data-driven retail. For more than 20 years, iMedia has brought together senior retail leaders, brands, platforms and technology partners to explore the trends reshaping commerce. The 2026 Southeast Asia iMedia Retail Summit will continue that conversation, focusing on the decisions retailers must make as algorithms increasingly influence discovery, conversion and growth.