Asia Pacific

In 2023, the Malaysian consumer foodservice market saw the continued strengthening of the country’s coffee drinking culture, which provided a notable boost to the performance of the specialist coffee and tea shops channel during the year. The end of…

Consumer foodservice continued to see strong recovery in Japan in 2023, posting double-digit growth in current value sales in line with the recovery of flows of consumers after the downgrading of the status of COVID-19. On 8 May 2023, the Japanese…

Consumer foodservice in Indonesia saw another year of positive growth in 2023, although current value sales remained well below pre-pandemic levels. Demand slumped in 2020, as the Community Activities Restrictions Enforcement (PPKM) put in place to…

Inflationary pressure drove continued current value growth in consumer foodservice in India in 2023. However, a slowdown in growth was seen compared with the previous two years, as 2022 had already seen full recovery to the pre-pandemic level of…

Consumer foodservice saw growth in outlet numbers and transaction volumes in Hong Kong in 2023, along with significant current value growth. 2023 was a year of recuperation for consumer foodservice players in Hong Kong. The previous few years,…

In 2023, consumer foodservice in China saw a robust recovery in terms of value sales and transaction volumes, benefiting from the relatively low base of 2022, when consumer foodservice outlets were severely negatively impacted by prolonged periods of…

Consumer foodservice sales returned to positive growth in Asia Pacific in 2023, following the decline caused by the resurgence of COVID-19 in China in 2022. While Starbucks continues to grow in China, it is facing competition from local coffee shop…

With Vietnam having experienced a strong rebound in international and domestic tourism in 2023, this served to boost the number of consumer foodservice transactions made in travel, lodging and leisure locations. According to official sources, more…

Consumer foodservice through retail saw a strong performance in 2023, both in terms of current value growth and number of transactions. Sales were boosted by an increase in footfall in shopping malls and other retail establishments., as consumer…

In response to the revival of eat-in dining, foodservice players resumed their outlet expansion strategies in 2023. As in the previous year, retail was the most dynamic location in terms of growth in number of outlets, as operators looked to…

Most Taiwanese office workers eat out for lunch during the weekdays, with this shaping sales of consumer foodservice by location. In the north, most office workers either eat out in restaurants, get takeaway or order food on delivery for dinner as…

In 2023, the significant growth in sales of drive-through outlets was noteworthy. This method of fulfilment showed a triple-digit growth rate during COVID-19 in 2020, and still sustained double-digit current value growth in 2023. From a corporate…

Consumer foodservice through lodging in Singapore continued to record strong double-digit value growth in 2023, driven by a growing number of inbound tourists. The emergence of hotel-led food and beverage concepts reflects a notable trend within the…

Stand-alone remained the most popular consumer foodservice location in the Malaysian market in 2023. Most consumer foodservice operators opt for stand-alone locations for their outlets. There has been an increase in the number of consumer foodservice…

In 2023, Japan relaxed its COVID-19 rules, which boosted the travel industry. These changes altered how people, both local and foreign visitors, viewed and approached travel, which aided recovery. In terms of local travel, COVID-19 became less of a…

The Indonesian tourism industry experienced a strong rebound in 2023, and this served to boost the number of transactions made in travel, lodging and leisure locations. According to official sources, more than 11 million international tourists…

In 2023, domestic tourism surged further in India, driven by spiritual experience and short-haul weekend trips, which led both travel and lodging consumer foodservice locations to witness strong consumer demand, seeing double-digit current value…

Consumer foodservice through standalone experienced a strong rebound in current value terms in Hong Kong in 2023, with growth primarily driven by price increments. As the economy rebounded and consumer confidence returned, foodservice establishments…

In the context of foodservice by location in 2023, there was a noticeable increase in the proportion of dining within retail, travel, leisure, and lodging locations compared with 2022. The primary reason for this shift was the impact of COVID-related…

Sales of consumer electronics were negatively impacted as consumers cut down on discretionary purchases as prices of electronics products escalated despite the economic uncertainties.

Overall, sales of consumer electronics have seen a return to growth in retail volume terms in Vietnam in 2023 after a steep decline in the previous year. However, the results within the different categories are mixed. With COVID-19 restrictions now…

2023 marks a year of recovery for consumer electronics in the Philippines after spending two years in the red due to economic uncertainties created by the pandemic and elevated inflation. While sales have not seen a full recovery in retail volume…

Retail sales of consumer electronics saw a flat performance in volume terms in 2023, following a more significant decline in the previous year. Despite a rebound in the domestic economy, assisted by the recovery of international tourism and easing…

Retail volume sales of consumer electronics continued to fall in 2023, with the rate of decline accelerating compared to the previous year. This was mainly the result of a slump in demand for computer and peripherals, although almost all other…

With the full lifting of COVID-19-related social distancing measures through 2022 and 2023, and consumers therefore drastically reducing the amount of time spent at home, the retail volume growth rate of overall consumer electronics in South Korea…

Following marginal declines the previous year, sales of consumer electronics, in both retail volume and current value terms, are growing in 2023. Despite the post-pandemic aftermath, including reduced demand for computers and peripherals for home…

Consumer electronics in Malaysia saw modest growth in 2023, although sales remained well below 2021 levels in constant value (2023 prices) terms. As the country emerged from the pandemic, consumers became increasingly keen to travel, socialise and…

2022 was a difficult year for players in consumer electronics. Price increases on materials, including semiconductor chips, and the weakened Japanese yen made it difficult for brands to secure profits. Some could easily apply price increases for…

In 2023 Indonesia’s economic landscape is showing an enduring resilience coupled with promising prospects, standing strong amid global economic shifts. The Minister of Finance stated in the year that macroeconomic variables, fiscal and monetary…

Consumer electronics witnessed solid retail volume and current value growth in 2023, although performances varied across different categories. While in-home and portable consumer electronics fared well due to robust growth in True Wireless Stereo…

2023 is a challenging year for consumer electronics, due to a combination of plateauing growth in several key categories – namely, computers, in-home consumer electronics, and smartphones, as well as a sluggish overall sales rebound following the…

In 2023, consumer electronics in China is set to experience another year of overall decline as the country stumbles into its long-due post-COVID-19 recovery. The good news for consumer electronics manufacturers is that supply side constraints have…

The biggest story in consumer lending in 2023 is the issuing of the new Circular by the State Bank of Vietnam, to promote consumer lending for daily needs. To encourage banks to increase their lending activities, including consumer lending, the State…

Towards the end of the review period consumer loans has shown continuous current value growth. In 2023, current value growth is being driven by credit cards and various personal lending options, particularly salary-based general purpose loans.…

Thailand’s economic performance in 2023 is improving as the pandemic effects subside and private consumption rebounds. Other positive factors include the surge in Thai and foreign travellers, as well as improvements in the service sector, which is…

The government's relaxation of control measures on digital banks has paved the way for a broadened range of financial services offered by pure digital banks. Although the impact on traditional banks and digital wallet operators remains relatively…

One of the most significant global issues concerning consumer credit is BNPL (Buy Now Pay Later) services, which enable consumers without sufficient funds to make an immediate purchase, locally known as “thin filers”, to obtain goods and pay at a…

Following the pandemic, card lending, contributing to over 60% of consumer credit gross lending in Singapore, has witnessed significant growth, largely propelled by the enduring trend of revenge travel. The resumption of travel and tourism activities…

In 2021 and 2022, many local consumers used personal loans when faced with unplanned expenses or a personal financial emergency. Malaysian banks were very active in offering personal loans to individuals, providing flexible repayments and offering…

Japan currently does not have any law restrictions surrounding Buy Now Pay Later (BNPL) and thus the benefits, such as convenience, flexibility, and especially no credit checks, are gradually being understood by a wider consumer base. These benefits…

Consumer credit gross lending has experienced further strong growth in 2023, along similar lines to the previous year. The main factor behind this growth has been the improvement in economic conditions as a result of increased community mobility…

In 2023, card lending - driven by increasing credit card adoption in India - remained the dominant category within consumer credit in gross lending terms. The adoption of credit cards further increased during the year, primarily as consumers’…

Since the reopening of borders in the fourth quarter of 2022, there has been a significant increase in the desire of Hong Kong residents to travel abroad, following three years of pandemic-induced restrictions. Throughout 2023, there has been a…

Consumer credit is set to see a moderate rebound in 2023, following subdued demand in 2022, affected by the pandemic. The pick-up in consumer credit growth has largely been due to rises in home and card lending, reflecting some improvement in…

The global urban consumer landscape is increasingly complex and difficult to navigate. Which cities should you choose for your consumer business expansion? To answer this and other questions, we are introducing the Euromonitor International Cities…

Companies face numerous challenges in 2023 after recent record-breaking sales. They include weakened demand, high interest rates on debts, and tighter consumer credit conditions. Elevated inventory levels are also of concern.

Government forecasts indicate a positive GDP growth for Vietnam across 2023, with a gradual decline in the average monthly Consumer Price Index (CPI), which is a good sign regarding stabilisation of inflation. The government in Vietnam aims to keep…

The performance of consumer appliances in the Philippines towards the end of the review period was significantly affected by high inflation in 2022, with a slightly higher inflation rate projected for 2023 as a whole. This has dampened the growth…

Sales of consumer appliances continued to see steady growth in retail volume terms in 2023 boosted by new property development and fewer concerns about COVID-19. The government’s economic stimulus programme also encouraged consumers to go shopping…

In 2023, consumer appliances in Taiwan posted slower retail volume and value growth compared to the previous year, with sales negatively impacted by inflationary pressure, the slowdown in the local real estate market, and a spending shift from goods…