Is Cambodia retailing industry ready for the change in technology?

• 22 October 2019
• Property Focus
• 2403 Views

Retail suppliers will face a challenge of competitiveness with the innovation of technology. According to CBRE Cambodia, these smart inventions consist of self-checkout counter machines, real time product information and offers via smartphones, guiding customers in-store through location tracking, paying via mobile applications​ and cameras which have the ability to analyse customer behaviour.

Currently, there are approximately 300,000 square metres of retail supply in Cambodia. CBRE’s new report shows that by 2024, shopping malls will increase to 496,857 square metres, retail podiums will reach 143,956 square metres, and community malls will also extend to approximately 100,000 square metres. Despite the retail supply having a high rate of future openings, what business owners should take into consideration is the competitiveness with new technology.

Although the innovation is a concern for future business, Cambodia is still a country where e-commerce is under limitation because Cambodia’s citizens still prefer cash payment instead of using cashless methods such as Wing or Pi-Pay according to Leakhena Long, co-founder and COO at Joonaak Delivery in a report by Geek Cambodia.