Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
Inflation remains high, making imported goods more expensive for consumers and restricting purchases of non-essentials, despite a degree of post-COVID-19 recovery. Retailing remains underdeveloped, with informal retailing dominant and benefiting from…
Following reopened borders and lifted restrictions in 2022, Malaysia's retail sector witnessed a surge in consumer revenge spending throughout the year. However, starting from the second quarter of 2023, the trend showed signs of decline as consumer…
Retail in Myanmar witnessed double-digit growth in current value terms in 2022 but this was largely driven by high inflation and the depreciation of the local currency exchange rate. Households became more price sensitive amidst declining purchasing…
In 2022, retail in Pakistan was severely impacted by the devastating floods and the economic crisis. Dwindling consumer purchasing power, supply chain disruptions, reduced agriculture output, weak lending activity by commercial banks and currency…
Retail in Singapore has left the impact of the pandemic behind following the easing of restrictions, and has continued with resilient, albeit slower, growth in 2023. The full-scale resumption of social activities and the reopening of international…
In 2023, retail in South Korea maintained solid current value growth both online and offline, with growth also returning to outlet numbers in the offline space. Value increases were seen across most channels, although growth in outlet numbers was…
Sri Lanka experienced an economic crisis in 2022 with hyperinflation and severe import restrictions due to a lack of dollars. Many retailers struggled to meet demand with the country experiencing severe shortages, including for key products such as…
Retail in 2023 presented a mixed landscape in Taiwan, marked by economic challenges as the country grappled with a recession in the first quarter. This downturn was primarily attributed to a decline in exports and subdued global demand for…
Thailand’s retail industry in 2023 continued to evolve and improve, responding to growing demand from consumers with convenience as a key driver. The wholesale and retail sectors, along with the vehicle maintenance and household goods sectors, have…
Despite persisting inflationary pressures, retail in the Philippines recorded healthy growth in in current value terms in 2023, continuing the trend of the previous year. Sales were boosted an increase in mobility, including the return of Filipinos…