Economic outlook for southeast asia, china and india 2018 oecd. Asia has a vast population with an increasing propensity to spend. The global fraud study of more than 6,000 consumers across 20 countries revealed that, compared to acis 2014 benchmark study, card fraud ratesunauthorized activity on three types of payment cards debit, credit and prepaidis on the rise worldwide. Consumer confidence in india continues to rise even as the overall sentiment in asia pacific has inched downward. A report from the economist intelligence unit the rise of. Share of global personal luxury goods market, by distribution channel and format. Coffee consumption in asia international coffee organization. The rise of china and indiaits implications springerlink. The disruptive face of the retail and consumer products. We highlight the luxury goods and gambling sectors as two of. Defining the middle class unlike poverty, which can be defined in absolute terms based on caloric requirements, there is no standard definition of the middle class. The most popular ecommerce categories, not surprisingly, are non.
American express study shows rising consumer expectations. A detailed survey of 5,500 women across asias major urban areas conducted by the economist intelligence unit finds that they are increasingly empowered financially and that they are driving the on the rise and online. Consumer trust and security perceptions february 2017 2017 aite group llc. Smartphone users in asia pacific 20142019 statista. Executive summary pdf 662kb full report pdf 3mb three paths to sustained economic growth in southeast asia. Retail in vietnam navigating the digital retail landscape. This rise in global economic growth will impact countries that are more export oriented, specifically malaysia, singapore and thailand, the. Five drivers resonate throughout our survey yf\ yj. Readying for the rise of the econsumer digital planet. The rise of female consumers in asia rapid economic growth and fast changing behaviors are two factors that foster the empowerment of female consumers in asia. Founded in 2014, ofo is a startup unicorn in china that supplies a nondocking. In the 90s, even the lessthantechsavvy began emailing when services like aol and hotmail became available.
Much of that growth is coming from china, whose working population is larger than those of the us and europe combined. As seen in table 1, china, india, thailand, and indonesia recorded gross domestic product gdp increases over 100 percent between 2005 and 2015. Smaller, secondary brands are also winning market share from. Asia consumer goods and retail analysis and data from the eiu. Gross domestic product gdp in emerging asia is expected to grow by 6. According to a report by ratings agency moodys from late 20, the asean economies should average growth of 5% in 2014, in part driven by firming global demand. Consumer buying behaviors are changing constantly, sometimes driven by product or technology innovation, but also in response to economic cycles. The asia consumer insights center develops new market insights for companies working to satisfy asia s rapidly evolving. Consumer confidence in india continues to rise despite an. Food prices have fallen very sharply over the last couple of. Customer insights from mckinseys asia personal financial services pfs survey reveal that digital banking penetration has grown 1.
Accenture s consumer products practice recently completed research that identified key consumer trends. But it wasnt until 1993 that email as we know it started to become a widely used term. The rise and rise of streaming and subscription more discovery, more from mobile. Chinas high gdp growth and rapid urbanisation process involves unprecedented larger numbers of people. Population mn, 2014 electricity consumption gwh, 2014. Many economic commentators are expecting a decade of tough times for australia as resources struggle. The question is no longer how quickly asia will rise. Hans rosling was a young guest student in india when he first realized that asia had all the capacities to reclaim its place as the world. The global economy has become deeply interconnected as huge volumes of goods, services, capital, people, and data move across borders.
Consumer email is on the decline but almost everything. Southeast asia nations asean and the international consumer protection and enforcement network icpen. The cyclical slowdown of the chinese economy, coupled with a critical structural transition towards greater consumption, is influencing consumers purchasing choices. In particular, the enormous growth of asias middle class brings with it expanding consumption. The rise of east asias global companies request pdf. I would like to take this opportunity to address four related questions. Global powers of luxury goods 2014 in the hands of the. Rising consumption, rising influence how asian consumerism. Emerging markets in asia, africa, central and eastern europe and the middle east are no exception.
But not all ecommerce categories are created equal. In looking through nielsen s recent global consumer confidence index. Chinas everexpanding consumer story is reflected also in its trade surplus, now just 4% of its gdp compared to 10% in 2007. As incomes rise, growing numbers of households participate in the consumer economy, and are able to afford discretionary purchases such as healthcare services. This report presents how the rising income of women and their increasing independence to use it are making them a very attractive segment for retailers and particularly, online retailers. Retail in vietnam emerging market, emerging growth summary the driving forces current performance the retail sector.
Key indicators for asia and the pacific 2010 special chapter the rise of asia s middle class 2. Luxury goods 2014 in the hands of the consumer 34927a lc global dd 1 1205 2014 11. Wealth report 2014, the total number of millionaires in india with investible assets, excluding main residence and consumer durables, of more than usd1 million grew by 51 per cent, the second fastest in the asiapacific region. American express study shows rising consumer expectations for good customer service marketing consumer survey reveals that when customers. We hope this report will serve as a guide to the evolving payment needs of consumers in the new digital economy in southeast asia. The story of the rising asian consumer class is incomplete without a solid. The median for developed asia is around 97 percent, and 52 percent for emerging asia.
It is a story that could play out over at least half a century and promises to have as dramatic an impact on the world as the rise of the american consumer in the postwar era of the 1950s. Asapcp asean strategic action plan for consumer protection. It is the rise of the asian consumer, particularly in china and india, but also elsewhere in the region. The ability to send text digitally or electronic email as it was called has been around for decades. Published in collaboration with contents published on 04 february 2014 february 2014 forecast in brief as a whole, the rapidly growing economies are set to recover over the course of this year, with growth over 5% in 2015. We disagree and think australia can flourish thanks to the emerging asian consumer. This study assesses the impact of the china factor on the evolving international order in east asia.
Rising consumption, rising influence how asian consumerism will reshape the global electronics industry contents preface 2 executive summary 3 introduction 5 asias rising consumption of global electronics output 7 trend 1. India s output expansion was mainly a result of rising numbers of dairy animals, as yields continued to rise slowly reflecting the limited availability of quality feed and fodder. Three paths to sustained economic growth in southeast asia. This statistic shows the number of smartphone users in the asiapacific region from 2014 to 2019. Read more how mobile money is changing asia the rise of the asian consumer is a. Across asia, rising incomes are creating an enormous new class of consumers. Asia development, financial markets, infrastructure and. Asia, drought, and consumer preference by hayden swegal in recent years, nuts have become a crucial export commodity, and nuts now play an influential role as a staple among u. India ranks second among asia pacific regions most optimistic markets with a score of 91. Goldman sachs the rise of chinas new consumer class. Throughout the 2000s, the harvests and sales of almonds, walnuts, pecans, and hazelnuts rose. Female consumers in asia the economist intelligence unit eiu. The overall sentiment in the region witnessed a mild drop with the.
Video and audio will generate 89% of consumer internet data traffic by 2018 exabytes per month. History, trends, challenges, implications for the united states congressional research service 1 hinas rise from a poor developing country to a major economic power in about four decades has been spectacular. The rise of asias middle class asian development bank. Asia will leapfrog many stages of technology development, driving new forms of electronic hardware, software and services 10. Indeed, the rise of ecommerce and digital retail channels in vietnam is one of the top trends to watch. The americas market made up 44% of online sales, but asia is. The rise of china and its implications parts of this essay were presented at the international league of peoples struggle ilps 4th international assembly in the philippines on 9 july 2011. Nielsen global changing consumer prosperity study 2018 58% 72% 86% 75% 71% 57% 48% 59% global southeast asia vietnam indonesia philippines malaysia thailand singapore i only have enough money for food, shelter and basics i live comfortably and am able to buy some things just because i want them im able to spend freely. Consumer protection in ecommerce oecd recommendation 2016 digital economy policy legal instruments. In western asia, food inflation has also been on the rise during the past two years. The rise of chinaa report on why australian tourism operators should consider becoming china ready prepared by this is an australian government funded initiative under tqual grants 2. For 2016, the number of smartphone users in the asiapacific region is.
And the good times from the resource boom are all but gone. In asiapacific, where consumers are more brand loyal, privatelabel value share is. In so doing, the article delves into the following four tasks. Asia consumer goods and retail service offers analysis, data and forecasts from the eiu to support industry executives decisionmaking. Already chinas urban population exceeds 450 mn people and the size of the urban population is rising by around mn people per annum equal to the entire population of greece. Young kim and others published the rise of east asias global companies find, read and cite all the research you need on researchgate.
Price trends in this subregion, which comprises countries from the middle and neareast, used to be driven. Its onechild policy, consumer producthongkongchina equity reseach. The rise of china and india could shift the political and economic center of the world to. In southeast asia, approximately eight in 10 respondents say they shop online. Ecommerce is big business and getting bigger every day. Writereaddatarecommendationdocumentsrecoonfm19042012. And, over the next decade, the rapidgrowth markets will. Asia consumer stocks appear expensive, but some analysts think they can rise further, getting a boost from falling commodity prices.
The rise of the asian consumer, led by china and india, as. Driving engagement, experience and revenue is an economist intelligence unit report, sponsored by marketo. Change in share of emerging market exports in laborintensive manufacturing, 201417. Change in share of emergingmarket exports in laborintensive manufacturing, 201417. Price projections based on ice 360o surveys 2014, 2016, 2018. But overall the biggest change that the graphic shows is probably the rise of asia.
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