Asia Pacific

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

This report examines inflation levels and drivers globally and in key countries in Q4 2023 and 2024. Global inflation is moderating, although divergence remains among the key economies. Higher volatility in the energy markets and disruption of…

While ceramic plays an integral part in traditional Thai cooking, plastic dinnerware is also popular due to its high durability, affordability and the fact it is lightweight and easy to store. However, rising awareness about the environmental threat…

Retail sales of homeware in 2022 returned to pre-pandemic levels (in constant 2022 prices), following a steep decline in 2020. During the outbreak of COVID-19, a retail value decline was recorded in all areas, with consumers being uncertain about…

In Indonesia, a wide range of materials including ceramic, glass and even wood are popular for manufacturing beverageware and this is largely due to the practicality, affordability and cultural significance of these materials. In addition, the…

COVID-19 had a significant adverse impact on home improvement during 2020 as restrictions on movement temporarily halted professional renovation and redecoration projects. Even after the measures were eased, some local consumers remained reluctant to…

Given interest rate hikes and inflationary pressures, Malaysians became increasingly cost-conscious in 2022. Nevertheless, the increased appetite among Malaysians to renovate their homes was still prevalent, often spiking during festivities, as…

The post-pandemic era has seen booming demand for home paint as the experiences of social distancing, home seclusion and, in particular, working from home at the peak of the pandemic during 2020 has led many Indonesians to the conclusion that they…

In 2022, Thailand witnessed high inflation, which was mainly attributed to the hike in energy and commodity prices following Russia's invasion of Ukraine early on in the year. Consequently, Thai consumers sought ways to reduce their expenses and…

Home furnishings witnessed a marked decline in sales in 2020, with all categories except home office furniture and storage furniture seeing negative growth. This was largely attributed to the fact that COVID-19 restrictions led to the postponement of…

After sales of drugs dropped substantially at the peak of the COVID-19 pandemic during 2020, the category has registered a very strong rebound in sales, with the very strong sales performance recorded in the category during 2021 continuing into 2022,…

Thailand witnessed an increase in consumer confidence in 2022, which was attributed to the reopening of the country to inbound tourism and an increase in international trade. However, there was a surge in the inflation rate due to soaring energy…

The home and garden market witnessed faster growth in 2022 compared to the previous year, underpinned by the immense consumer appetite among Malaysians to furnish their homes and create aesthetically pleasing environments, especially during the…

2022 saw a significant slowdown in value growth across home and garden in Indonesia as demand faltered somewhat after very strong growth was recorded across most categories in 2021 due to demand picking up substantially as the impact of the COVID-19…

Gardening was the most dynamic area of home and garden in 2022 with most categories seeing double-digit growth in current value terms. During the pandemic a growing number of consumers started to show an interest in gardening as restrictions meant…

Retail sales of gardening were much higher in 2022 compared to pre-pandemic levels, driven by the increased interest among Malaysians to improve the liveability of their homes and interact with nature amidst hectic urban lifestyles. However, growth…

The 'grow your own food' culture grew significantly in popularity in Indonesia during the peak years of the COVID-19 pandemic as huge numbers of local people sought new ways to become more self-sufficient and reduce their reliance on the commercial…

Due to the COVID-19 pandemic, many people were compelled to stay at home for extended periods, which led to an increase in the habit of cooking at home among consumers. Even in 2021 and 2022, a significant number of consumers continued to prepare…

Increased time spent at home during the pandemic, and the consequent boost in interest in home cooking, resulted in higher demand for homewares in current value terms and in value terms at constant 2022 prices in 2022 compared with pre-pandemic…

Sales of homewares fell in both current value terms and in value terms at constant 2022 prices in 2022. Nevertheless, sales remained higher by both measures than before the pandemic, due to the growing “nesting” phenomenon during and to some extent…

Although wallpaper continued to record positive growth in 2022, growth at constant 2022 prices slowed compared to a year earlier and sales were still below pre-pandemic levels, given the size of the decline seen in 2020. The inflation rates in the…

Home improvement in South Korea saw marginal current value growth in 2022 compared with the previous year, despite falling value sales at constant 2022 prices. Nevertheless, sales remained higher than the pre-pandemic (2019) level by both measures.…

In 2022, home improvement saw a second year of decline in both current value terms and in value terms at constant 2022 prices. Nevertheless, sales remained higher by both measures compared with the pre-pandemic period in 2019, owing to the increased…

With inflation surging in 2022 in the Philippines, reaching its highest rate in 14 years, demand for expensive home furnishings was impacted in this year, with many products in this category seeing slower growth than a year earlier. This was mainly…

In 2022, home furnishings in South Korea saw declines in current value terms and in terms of value sales at constant 2022 prices compared with the previous year, largely driven by a decline in the country’s real estate market. Most purchases of…

Home furnishings declined in both current value terms and in value terms at constant 2022 prices in 2022. In addition, sales were lower by both measures in 2022 compared with before the pandemic started, in 2019. After the pandemic hit, Japanese…

In 2022, the Philippines experienced a decline in consumer confidence due to rising inflation caused by higher energy prices. These price hikes were a direct result of the Russia-Ukraine conflict that started in the same year. The rise in energy…

In 2022, although home and garden in South Korea saw declines in current value terms and in value terms at constant 2022 prices, sales remained higher than the pre-pandemic level, seen in 2019. The increased amount of time spent at home during the…

The home and garden industry saw current value growth in 2020, as Japanese consumers were confined to their homes, which allowed them to focus on home renovations and gardening. Home improvement, homewares and gardening all witnessed notable current…

The pandemic forced people to stay indoors for significant periods in 2020 and 2021, leading to gardening becoming a more popular pastime. As well as being an enjoyable pastime, gardening also provided an opportunity for consumers to connect with…

Gardening became a popular hobby in South Korea during the pandemic, as consumers sought to be close to nature. All gardening categories grew in current value terms in 2022 compared to the previous year, and saw demand in both current terms and at…

Gardening became a favourite pastime amongst many consumers during the pandemic, as people were confined to their homes, with few outside entertainment options available. In 2022, gardening saw declines in sales compared with the previous year in…

The Asian consumer is changing. Traditional values that served the collective in terms of both society and the family are on the wane, with COVID-19 lockdowns accelerating a new focus on individualism and the self. This report explores how Asian…

Homeware products failed to see any visible growth in constant value terms in 2022, despite the continuation off the home cooking trend. This was in sharp contrast to 2021, when COVID-19 restrictions required people to spend longer periods of time at…

Home improvement was characterised by a growing demand for more sustainable, low-maintenance options in 2023. Of particular note was the ongoing decline in sales of carpets (in constant value terms), thanks to a growing consumer awareness of the…

Retail sales of home furnishings in Taiwan experienced a modest decline in constant value terms in 2022, in contrast to the more buoyant performance of the previous year. While the country’s inflation rate was relatively low compared to other markets…

Home and garden in Taiwan experienced static growth in constant value terms in 2022, in contrast to the more buoyant performance of the previous year. While the country’s inflation rate was relatively low compared to other markets in the Asia Pacific…

Taiwan faces a shortage of outdoor space in urban areas, due to high population density, limited land availability and the predominance of apartments. This means that many consumers turn to indoor plants as a way of bringing greenery to their homes.…

In 2022, current value sales of cutlery continued to rise in China. Firstly, as many restaurants closed as a result of pandemic restrictions or could only accommodate a limited number of patrons, consumers cooked and ate more frequently at home. As a…

As many local consumers spent a prolonged amount of time in their homes during the pandemic, including 2022, it created greater demand for products that could create a comfortable and cosy environment. Carpets provide a soft and warm surface to walk…

The pandemic led to an economic downturn in China, with GDP growth slowing and job losses increasing. This led to a reduction in consumer spending, especially on perceived non-essential items such as home furnishings. Moreover, during the pandemic,…

The COVID-19 pandemic and subsequent restrictions in China, including the recent “zero-Covid” policy implemented by the government to control the spread of the virus, had a significant impact on local consumers’ spending patterns. With lockdowns,…

During the pandemic, the Ministry of Agriculture and Rural Affairs encouraged local citizens to grow their own vegetables at home to ensure food security. The notice encouraged them to make use of their balconies, rooftops, and other available spaces…

Despite witnessing current value growth, homewares witnessed a decline in demand at constant 2022 prices in India between 2019 and 2022, as increasingly fast-paced lifestyles in the country did not allow people to spend much time improving their…

Within home improvement, home paint witnessed growth in current value terms in India during the pandemic and into 2022. As COVID-19 led people to spend more time at home, they began to notice the need for home repairs and renovation. This resulted in…

Home furnishings in India witnessed an increase in current value sales in 2022, partly to rises in inflation and subsequent price increases. Consumers spent on home furnishings to upgrade their homes due to the economic climate. However, while demand…

In 2022, home and garden experienced a further dynamic increase in current value sales in India, following a strong rise in 2021. The country’s rising inflation rate, which rose to 5.8% in 2022, encouraged consumers to be mindful of their purchases…

The growing interest in gardening in India can be attributed to several factors, including the lack of green spaces in urban areas, a desire to connect with nature, and the therapeutic benefits of gardening. Gardening is seen to create a peaceful and…

In 2022, homewares recorded declining value sales, as lockdowns forced the closure of physical stores, which dominate the distribution of these products. Nevertheless, the category experienced a mixed performance. Despite dining recording a positive…

Current value sales of home improvement in Hong Kong declined in 2022, driven largely by the poor performance of the housing market. Transactions regarding both new constructions and existing homes were down in 2022, drastically reducing the number…