Consumers in 2024: Uncovering Opportunities Amid Uncertainty
An Hodgson
Approaching 2024, the consumer landscape remains dominated by a high degree of uncertainty. Although overall inflation is set to fall in 2024, core inflation – which excludes volatile food and energy prices – is expected to remain elevated. This is likely to force central banks to keep interest rates “higher for longer”, adversely impacting companies and consumers.
Digital Revolution: Top Five Trends Discussed at Hong Kong FinTech Week 2023
Sarah Atiq
Euromonitor International joined the Hong Kong FinTech Week (HKFW) 2023, identifying five key trends with global impact shaping the future of finance: namely cross-border transactions; artificial intelligence (AI); embedded finance; digitalisation and ESG opportunities. Besides cross-border transactions discussed in a prior article, this opinion focuses on the latter four key trends.
Top Five Global Trends in Income and Expenditure
Jana Rude
As global consumers face geopolitical uncertainty and challenges posed by rising living costs, insights into worldwide income and expenditure trends become critical to corporate strategy planning. Euromonitor International has identified the top five trends to help companies predict the purchasing power potential and spending patterns of the most important consumer segments.
Science-based Skin Care Takes Centre Stage with Beauty Devices in China
Yang Hu
In China, as consumer demand for skin care has become increasingly sophisticated and science-based, home-use beauty devices have gradually become an important step in the skin care routine. With the introduction of new regulations for beauty devices in 2024, the market landscape is poised for a significant reshuffle.
Five Success Factors of Cross-Border Transactions Discussed at Hong Kong FinTech Week 2023
Sarah Atiq
Cross-border transactions was a key trend discussed during the Hong Kong FinTech Week 2023, with a focus on better international inter-operability, faster speed, lower cost, higher security and more practical features.
Why Investing in E-Commerce Development in Emerging Markets Matters
Rabia Yasmeen
When it comes to e-commerce investment, emerging markets have long been overshadowed by developed countries. However, as e-commerce penetration and online sales growth rates mature in developed countries, players across the digital ecosystem are shifting focus to emerging markets.
Key Consumer Foodservice Trends for Asia Pacific, Western Europe, Latin America and The Middle East and Africa
Jeremy Roberts
Consumer foodservice was one of the industries most badly impacted by the pandemic and its slew of restrictions, recording major losses across regions. It has been recovering in most areas of the world since the pandemic, although the recovery is starting to slow, due to high inflation rates pushing up costs and eating into consumers’ disposable incomes.
Key Trends in Toys and Games: Focus on Asia Pacific and Western Europe
Jeremy Roberts
In Western Europe, high inflation is having a negative impact on sales of toys and games, with a similar situation prevailing in Asia Pacific, notably Japan, as rising prices in many areas of the economy are putting pressure on consumers’ disposable incomes. Despite this negative influence, Western Europe saw sales growth increase in 2022. In contrast, sales declined in Asia Pacific, due to losses in the region's highest value markets, China and Japan.
Leveraging Emotional Loyalty in Asia Pacific to Overcome Point Liability
Prudence Lai
Economic headwinds are impacting how consumers spend in Asia Pacific which calls for effective loyalty strategies for customer acquisition and retention. The costs behind running a loyalty programme can be significant and hinders the return-on-investment of such schemes. Emotional loyalty strategy can serve as a key differentiator in the region to enhance long-term customer loyalty and deliver balanced approach alongside monetary rewards.