Asia Pacific

Store cards in South Korea is experiencing a trend of stagnant growth. Despite the enduring appeal of store cards and their unique set of benefits, the growth rates in both 2022 and 2023 feature stabilisation rather than substantial expansion.…

In 2022, South Korea witnessed growth in both the issuance and usage of pre-paid cards in line with greater mobility outside of the home. Shinhan Card, in particular, played a role in driving this growth, reporting a remarkable increase in the retail…

The landscape of card transactions in South Korea is undergoing a remarkable transformation marked by a gradual decline in cash usage. This paradigm shift is primarily driven by the widespread adoption of mobile financial services, a trend that has…

In 2023, the number of debit cards in circulation in South Korea continues to gradually decline following a steady upward trend over 2019-2021. The decline is primarily underpinned by two fundamental factors; namely the declining teenage population…

In 2022, the relaxation of pandemic-related restrictions, including the easing of social distancing rules, heralded a significant shift in local consumers’ behaviour. With a newfound freedom to venture outdoors, a growing number of individuals opted…

Gross consumer lending’s growth is continuing to outperform outstanding balance, driven by card lending, as local consumers spend more with the reopening of society and cross-border travel. However, outstanding balance on card lending (encompassing…

One of the most significant global issues concerning consumer credit is BNPL (Buy Now Pay Later) services, which enable consumers without sufficient funds to make an immediate purchase, locally known as “thin filers”, to obtain goods and pay at a…

In 2022, vacuum cleaners experienced disruption, with retail volume sales experiencing a decline. This was primarily due to the resurgence of COVID-19, which had a negative impact on production and delivery. However, following the end of the pandemic…

Kazakhstan has strong trade links with Russia and its war in Ukraine is negatively impacting the economy and leading to high inflation. While skyrocketing international oil and gas prices is boosting the local economy, its usual outflow to the global…

Retail volume sales of small cooking appliances are expected to decline by a high single-digit rate in 2023. In the post-pandemic era, demand for small cooking appliances has weakened further, mainly because consumers are cooking less at home. With…

Instant noodles continues to account for significant value sales in Kazakhstan and in 2023, is expected to outperform pasta and rice, registering very healthy volume growth. Russian company Mareven continues to lead, with its popular brands Rollton…

As the Chinese government lifted all COVID-19-related restrictions at the onset of 2023, sales of refrigeration appliances began to recover in light of the opening-up. However, this sudden change had different impacts on sales of freezers and…

While the war in Ukraine has led to supply disruptions, processed meat and seafood and alternatives to meat is expected to register moderate volume growth. That being said, constant value sales are expected to fall, as rising costs hit profit value…

It is expected to be an improving picture for the consumer of processed fruit and vegetables in 2023, as retail prices are expected to fall, leading to a decline in both current and constant value sales. As such, there is expected to a moderate…

Retail volume sales of personal care appliances are set to rebound slightly in 2023, after seeing a couple of years of decline, thanks to the increasing demand for personal care post-pandemic. As all pandemic restrictions were lifted at the end of…

Similar to small cooking appliances, microwaves is expected to have another tough year in China in 2023, with a projected single-digit decline in volume sales, which are set to fall below 10 million units. On the one hand, demand for cooking…

Entering 2023, the easing of COVID-19 restrictions boosted consumer confidence instantly, as people were able to travel with peace of mind, without the fear of being put into arbitrary lockdowns. However, the prospects for the housing market have…

Overall, home laundry appliances is set to experience another year of single-digit retail volume decline in 2023, driven by the sluggish performance of the leading category in terms of volume sales, automatic washing machines, as well as…

Retail volume sales of food preparation appliances are set to see a single-digit retail volume decline in 2023. With the end of the zero-COVID policy and the full reopening of businesses, including offline restaurants, as well as other foodservice…

In 2022, the COVID-19 pandemic hit China hard, forcing almost all parts of the country into partial or total lockdown on various occasions. As a consumer appliances category relying significantly on professional installation services, dishwashers…