Indonesia and Malaysia have shown consecutive improvements in the technical consumer goods (TCG) sector quarter after quarter.
Along with Thailand, these countries are the three strongest performing markets across Southeast Asia in the third quarter, turning in overall positive showings in the range of 9% to 14%.
According to the latest GfK TEMAX (Technical Market Index) reports for the region covering Singapore, Malaysia, Thailand, Indonesia and Vietnam, Indonesia has taken over Malaysia's top position in the second quarter as the country with the highest TCG market growth with its 14% growth achieved in the latest quarter.
Nevertheless, Malaysia still managed to attain a robust double-digit expansion of 10%, trailed by Thailand which saw its TCG sector grow by 9% over the same period in 2011.
Stanley Kee, managing director of GfK Asia, noted that Indonesia and Malaysia have been alternating as the top TCG growth market in the region, adding that Malaysia has shown to be a consistent strong performer with double-digit growth during the tracking period.
Driven by the heightening sales of smartphones, the telco segment is experiencing rapid expansion in the developing markets of Thailand and Malaysia, which generated 29% and 26% incremental sales, respectively.
"Various technological products such as smartphones and tablets have been experiencing a high level of adoption and they are expected to continue as two of the key sales generators in the TCG market," said Kee.