Asia Pacific

Retail value sales of luxury goods in China grew by 6% in 2023 in current terms, to stand at CNY3 trillion. Growth in sales was fuelled by several factors during the post-lockdown period. One significant driver was a desire amongst affluent consumers…

Retail sales of luxury goods in India increased by 3% in current value terms to reach INR553.8 billion in 2023. The post-lockdown period saw a focus on recovery and a revival of normal consumer behaviour, encompassing working, shopping, the…

Retail value sales of luxury goods in Japan grew by 4% in 2023 in current terms, to amount to JPY5.3 trillion. There was a clear focus on recovery post-lockdown, with luxury shoppers keen to indulge in activities that may have been off-limits during…

Personal luxury retail value sales grew by 15% in 2023 to amount to CNY413.1 billion, thanks to growth recorded by leading brand providers such as LVMH Fashion (Shanghai) Trading Co Ltd, Richemont SA, Cie Financière, and LVMH Moët Hennessy Louis…

Personal luxury retail sales increased by 11% in current value terms to reach INR256.2 billion in 2023, supported by growth recorded by leading players such as LVMH Watch & Jewellery India Pvt Ltd, Louis Vuitton India Retail Pvt Ltd and Hermès India…

Personal luxury retail value sales rose by 7% in 2023 to total JPY3.4 trillion, supporting growth recorded by leading brand providers such as Louis Vuitton Japan KK. In 2023, sales were boosted by investment in luxury goods such as designer apparel…

Value sales of premium and luxury cars rose by 4% to total CNY1.7 trillion in 2023, due to demand from higher-income consumers, with expenditure proving resilient in the face of macroeconomic headwinds. Wealth determines the degree of demand that…

Value sales of premium and luxury cars fell by 7% to INR245.9 billion in 2023. While supplies have improved, there is still a massive order backlog, with the waiting period for most luxury models stretching from two to 10 months. In addition, while…

Value sales of premium and luxury cars went down by 2% to total JPY1.5 trillion in 2023. A significant increase in sales was seen in 2022, as a rebound was seen as the pandemic eased, and this exceptional level of growth was unable to be sustained in…

In 2023, health sensitivities among consumers in Laos, due to local diet and weather, have led to increased demand for consumer health products. Likewise, the prevalence of self-medication persists due to limited hospital access, leading consumers to…

Consumers are increasingly adopting a preventative approach to maintaining good health, which continues to drive interest in vitamins and dietary supplements in 2023. Established brands continue to dominate sales as brand loyalty is relatively high…

From a product perspective, embedded payment market competition has been intensified with digital players, which are challenging the card operators. For deposit and lending, leading banks such as Goldman Sachs and CIMB have made their names in the…

Although South Korea enjoys significant economic freedom, corruption amongst high-ranking officials is a blot on its political scene. Inflation is low and a trade deal could help exports, but the economy is slowing and foreign investment could be…

In 2023, the COVID-19 pandemic has lost some of its disruptive potency; however, analgesic sales in Azerbaijan are ticking upwards in value terms (with the exception of adult aspirin). Value sales are being pushed by Azerbaijan's reliance on imports,…

Analgesics is expected to register moderate constant value growth in 2023. In spite of continuing very high inflation, volume growth is also expected to be healthy, and is supported by continuing population growth. Price limits on analgesics is also…

Despite the overall waning impact of the pandemic in South Korea, simultaneous new outbreaks of COVID-19, influenza, and the common cold (referred to as a “tripledemic” in the country) are leading to a sharp increase in the number of consumers…

Consumer health in Azerbaijan is seeing something of a resurgence in 2023. New entrants are livening up the marketplace, and fresh medications are making their mark. The once-stringent Tariff Regulatory Authority has taken a step back, loosening the…

Pakistan’s economy continues to struggle and the government secured a further USD3 billion bailout with the IMF in July 2023, avoiding an impending default. Inflation continues to be very high and is being driven by several factors, including…

The self-medication trend is growing in South Korea, supporting further sales growth for analgesics, and cough, cold and allergy (hay fever) remedies, especially since the prevalence of the “tripledemic” in the country, consisting of COVID-19,…

As COVID-19 restrictions lift and society returns to face-to-face interaction, the regular seasonal sicknesses —colds and flus—are making their own return to Azerbaijan. More social mingling means not just handshakes and hugs on the rise; sniffling…