The Big Retail Picture in Asia: Now with Myanmar
Looking back on 2016, the year can best be described as one of change and uncertainty across many of our Asia Pacific markets.
While it is still unclear what impacts Brexit and the new American presidency will bring, change and disruption in some Asian countries are having more immediate effects on local markets.
Notable events in Q4 included the passing of Thailand’s King Bhumibol, the sudden currency reform in India and the impeachment of South Korea’s president. Add in growing uncertainty about the future of the Trans-Pacific Partnership and it was certainly a tumultuous end to the year.
But in the face of these challenges, how are Asia Pacific consumers feeling and how does that translate to retail performance?
Consumer confidence across the region strengthened modestly during 2016, although it varied widely by country, from a high of 136 points in India to a low of 43 points in South Korea. In 10 of the 14 markets, consumers were more optimistic by the end of the year.
Overall FMCG growth remained stable in the region. While some markets felt the effects of local uncertainties, most continued to perform well and offered plenty of opportunities, especially Vietnam, Taiwan and India in Q4.
The trump card for retail in the Asia Pacific is the vast opportunity within its own borders. This is a region with burgeoning population growth, a predominantly young workforce, improving living standards in the developing markets and a growing consumer desire to spend. Nielsen – Read more…
While it is still unclear what impacts Brexit and the new American presidency will bring, change and disruption in some Asian countries are having more immediate effects on local markets.
Notable events in Q4 included the passing of Thailand’s King Bhumibol, the sudden currency reform in India and the impeachment of South Korea’s president. Add in growing uncertainty about the future of the Trans-Pacific Partnership and it was certainly a tumultuous end to the year.
But in the face of these challenges, how are Asia Pacific consumers feeling and how does that translate to retail performance?
Consumer confidence across the region strengthened modestly during 2016, although it varied widely by country, from a high of 136 points in India to a low of 43 points in South Korea. In 10 of the 14 markets, consumers were more optimistic by the end of the year.
Overall FMCG growth remained stable in the region. While some markets felt the effects of local uncertainties, most continued to perform well and offered plenty of opportunities, especially Vietnam, Taiwan and India in Q4.
The trump card for retail in the Asia Pacific is the vast opportunity within its own borders. This is a region with burgeoning population growth, a predominantly young workforce, improving living standards in the developing markets and a growing consumer desire to spend. Nielsen – Read more…
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