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.
Apparel and footwear specialists registered strong growth in current value terms in 2023. This was attributable to an increase in mobility, with consumers returning to their pre-pandemic shopping routines. The year also saw more consumers returning…
Overall current value sales rose in 2023 for apparel and footwear specialists in Thailand, partly benefitting from the continued post-pandemic rebound. Thailand is a difficult market for fast fashion players, however. Even before the pandemic,…
In 2023, the retail sales of apparel specialist retailers in Taiwan bounced back significantly. Following a double-digit growth rate in 2022, which surpassed the modest growth recorded in 2021, several major international brands displayed remarkable…
Outlet numbers in apparel and footwear specialists in South Korea remained fairly static in 2023, after several years of decline. Meanwhile, although sales failed to return to anywhere near the pre-pandemic level in current value terms, they…
Apparel and footwear specialists in Singapore continued to record robust growth in 2023. This was largely driven by the full-scale resumption of social activities and international travel. 2023 witnessed a full year of the effects and benefits of…
Reopened borders in 2022 and relaxed movement restrictions resulted in sharp rises in foot traffic in malls, boosted by locals and the return of international tourism. Festivities such as Hari Raya Aidilfitri and the widespread use of promotions…
The leading player in apparel and footwear specialists, Fast Retailing, has been focusing on experiences in its stores. Having both an offline and online presence, the retailer aims to differentiate its physical stores by providing customers with…
Apparel and footwear specialists saw further current value growth in Indonesia in 2023. In the post-COVID-19 environment, consumer experience has become increasingly important, with consumers expecting comfort and unique design in stores. Gen Z and…
Apparel and footwear specialists maintained double-digit current value growth in India in 2023, along with continued growth in outlet numbers. After significant disruption during the pandemic, the channel returned to the 2019 level of sales for the…
Apparel and footwear specialists saw a significant rebound in sales in Hong Kong in current value terms in 2023. Inbound tourism and private consumption continued to recover in 2023, and improvements in household income helped retail sales to rebound…
After a year of significant decline in 2022 due to pandemic restrictions, in 2023 apparel and footwear specialists continued to see a slight fall in current value sales in China, despite the lifting of restrictions. With the end of the pandemic,…
Consumers are facing increased pressure from rising prices as global inflation reaches 7% in 2023. The impact of higher costs of living is felt from top earners in developed markets to struggling households in emerging and developing countries.…
Global consumers are struggling with the cost of living crisis, as inflation remains high while household income growth lags. Consumers are adopting recessionary habits, such as trading down and being more selective in their spending. Rather than…
Rising costs of living pose challenges globally, but companies can find opportunities in several categories, essential and discretionary, especially in underpenetrated fast-growing markets. By considering category adjacencies and focusing on value,…
Cities are hubs for spending, with 80% of expenditure expected to be generated by urban areas in 2023. Spending growth in 2023 will, however, be sluggish, as cost of living challenges force consumers to be more conservative in their expenditure. Over…