Retailing

Robust growth momentum was seen for discounters in China in 2023, with increases in both current value terms and in outlet numbers. This was driven by increasing economic uncertainty in the country, which led more Chinese consumers to seek products…

The leading chained players in discounters have been eyeing potential expansion opportunities in the wake of the COVID-19 pandemic, as the improved situation has made it easier for them to justify greater investment in outlet growth. Players have…

Discounters remained only a small retail channel in South Korea in 2023, and continued to see a decline in outlet numbers in this year, although returned to slight current value growth. In South Korea, major retailers have embraced private label…

2023 proved to be a challenging year for discounters in the Philippines, in light of a limited store count and fierce competition with other retailers. With the revival of hectic pre-pandemic lifestyles, including the return of consumers to their…

Asia Pacific houses the biggest country market for e-commerce (China) and the nation with the second highest e-commerce per capita consumption in value terms (South Korea). As a region, it therefore houses highly developed e-commerce countries, but…

Generation Z, comprising one-fifth of the global population, is poised to wield significant consumer influence. However, their polarized behaviours toward social activism, technology, and spending present challenges for businesses. This report…

After seeing a notable decline in value sales in 2022 during the waves of COVID-19 across the country, when many consumers lost confidence in spending on non-essential durable goods, general merchandise stores saw a moderate rebound in its sales in…

General merchandise stores saw a second year of double-digit current value growth in Hong Kong in 2023, finally recovering to the pre-pandemic (2019) level of sales, after disruption due to the loss of tourist flows. Although variety stores saw…

General merchandise stores maintained dynamic double-digit current value growth in India in 2023, and finally saw the recovery of its sales to the pre-pandemic level. Growth was also seen in outlet numbers, which rose to over 4,000 stores, all of…

General merchandise stores registered current value growth in Indonesia in 2023. Since the onset of the COVID-19 crisis, consumer behaviour has changed rapidly. People are getting used to purchasing products online, which has diversified their…

In 2023, department stores benefited from a rebound in the number of tourists visiting Japan and the depreciation of the yen. Although it lagged somewhat behind other countries, Japan finally lifted COVID-19 regulations in 2023. As for the recovery…

In line with global trends, department stores in Malaysia are losing appeal due to growing interest in fast-fashion retailers such as H&M, Zara, Uniqlo, and Padini which offer the latest fashions at relatively affordable prices. Small boutique stores…

Variety stores in Singapore continued to record solid growth in 2023, driven by the rising cost-of-living pressures, which were a key area of concern for local consumers. Amid a muted economic climate, and rising prices as a result of inflation and…

General merchandise stores maintained growth in both outlet numbers and current value sales in South Korea in 2023, with increases seen for both variety stores and department stores, although the latter remained by far the larger channel. Department…

Following two years of economic downturn, general merchandise stores in Taiwan experienced a remarkable resurgence 2023, witnessing double-digit growth in retail sales. Surpassing the convenience stores channel, general merchandise stores reclaimed…

Variety stores in Thailand saw positive though slowed growth in terms of current value sales in 2023. The segment was hit hard by the pandemic and its economic fallout; many local consumers remained reluctant to shop from variety stores as they…

The general merchandise stores channel in the Philippines, which is dominated by department stores, saw buoyant growth in current value terms in 2023. An increase in mobility, including the return of consumers to their physical offices, contributed…

General merchandise stores in Vietnam benefitted from increased inbound tourist flows in 2023, with Vietnam’s tourism industry continuing to rebound post-pandemic and luring millions of international visitors within the year’s first nine months.…

Businesses globally face challenges in consumer markets in the short to medium term, owing to the rising cost of living and increasingly financially cautious consumers. Amidst uncertainty arise opportunities. Income and expenditure insights are…

This report examines inflation levels and drivers globally and in key countries. In 2023, global inflation is expected to ease from its peak in 2022, but remaining significantly above-trend. Geopolitical risks and uncertainty in the energy market are…