This report was produced in cooperation with the Economist Intelligence Unit. It discusses the outlook for six retail and consumer products sub sectors in Asia - food and general retail, fashion and apparel, online retailing, fast-moving consumer goods (FMCG), luxury brands, and durable consumer goods and electronics.
It focuses, in particular, on China, Hong Kong, India, Japan and Taiwan, and looks at how the industry is faring in 2013 and is expected to grow through 2016, and the opportunities and challenges in the years ahead.
- Reflecting the global economic slowdown, Asia Pacific's retail sales growth volume is forecast to grow at 6% in 2013. Asia remains a top destination for global retail chains.
- China's growth is forecast to be 10.5% in 2013 and an average of 10.4% from 2013 through to 2016. It will overtake the US as the world's biggest retail market in 2016.
- Sales of luxury goods in Greater China accounts for 20% of global sales.
- Online retailing continues to enjoy exponential growth in Asia with 2012 estimated sales of RMB 450 billion, representing 5% of total retail sales in China.
- Private labels have new opportunities to increase their market share that has been slow growing.
- Asia’s fashion and apparel market will continue to lead global growth.
- Rising incomes continue to drive growth of fast-moving consumer goods companies.
- Asia market demand for electrical appliances and housewares will pick up to 6.8% in 2013, while demand for household audio and video equipment will grow to 7.8%.