Asia Pacific

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…

The digital revolution has been rewiring retail for years, leading to new business models, commerce ecosystems and channels for reaching and engaging consumers. The COVID-19 pandemic accelerated this transition, as e-commerce became the default…

The digital revolution has been rewiring retail for years. The COVID-19 pandemic accelerated this transition as e-commerce became the default setting for many homebound consumers. The crisis-inspired surge in e-commerce is leading to a permanent…

Despite the deleterious impact of the COVID-19 pandemic, Uzbekistan recorded positive annual real GDP growth of 1.9% in 2020. With the reopening of the economy, as well as higher state investment and a recovery in remittance inflows that bolstered…

Retail in Vietnam struggled in 2023, facing pressures from inflation and a weakening export market, among other things. Local consumers cut back on spending which negatively impacted several retail categories, including appliances and electronics…

Small local grocers in China includes a broad range of outlet types, from mom-and-pop stores to wet markets. After a year of significant decline in 2022, small local grocers returned to growth in 2023. This was mainly due to the end of COVID-19…

In 2023, small local grocers maintained a similar performance to that seen in previous years in Hong Kong, with further current value growth. The positive performance was helped by residential areas remaining a stable and strong source of domestic…

In 2023, small local grocers maintained dynamic current value growth in India, although outlet numbers stagnated for another year. This channel also continued to dominate value sales within grocery retailers in this year, accounting for three…

Small local grocers saw modest growth in current value terms in Indonesia in 2023. Besides continued economic pressures, the performance of the small local grocers channel has been restricted by consumers switching towards modern grocery retailers,…

Traditionally, Japanese consumers have enjoyed shopping in areas called Shotengai, where many small shops, including small local grocers, are lined up along the streets. Customers visit different specialist shops to buy their vegetables, fish, and…

One of the most important pandemic-related impacts on small local grocers was the huge shift towards working from home. This deprived many operators of an extremely important consumer base of busy, urban professionals looking for a quick and easy…

“Mama shops”, which are small local grocers in Singapore typically located within older and mature residential estates, used to be the cornerstone of grocery retailers in the local market. Such a traditional retail format used to thrive on the…

In 2023, small local grocers in South Korea saw yet another year of decline in both current value sales and outlet numbers. The channel has been encountering difficulties as consumer preference is tending to shift towards e-commerce and convenience…

Small local grocers in Taiwan recorded solid growth in value sales in 2023. The country boasts over 300 night markets, housing about 20,000 vendors and merchants, with a majority situated in towns and rural areas. These vibrant hubs represent the…