Income and Expenditure

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…

With China’s economy reopening, consumer spending and income growth are expected to accelerate. Over the period to 2027, the lower middle class (socioeconomic group D) is set to experience the fastest expansion, while the lowest income class…

South Korea has witnessed population decline over the recent years, as number of childless households continue to increase. Generation X, aged 60-75 in 2040, will continue to hold its position as the most influential consumer segment. Older cohorts…

The digitalisation and expansion of high-tech industries in South Korea are poised to fuel consumer growth, surpassing the regional average. The rise of a burgeoning middle class and an expanding affluent consumer segment will serve as pillars for…

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…