Asia Pacific

2023 is a challenging year for consumer electronics, due to a combination of plateauing growth in several key categories – namely, computers, in-home consumer electronics, and smartphones, as well as a sluggish overall sales rebound following the…

In 2023, consumer electronics in China is set to experience another year of overall decline as the country stumbles into its long-due post-COVID-19 recovery. The good news for consumer electronics manufacturers is that supply side constraints have…

The biggest story in consumer lending in 2023 is the issuing of the new Circular by the State Bank of Vietnam, to promote consumer lending for daily needs. To encourage banks to increase their lending activities, including consumer lending, the State…

Towards the end of the review period consumer loans has shown continuous current value growth. In 2023, current value growth is being driven by credit cards and various personal lending options, particularly salary-based general purpose loans.…

Thailand’s economic performance in 2023 is improving as the pandemic effects subside and private consumption rebounds. Other positive factors include the surge in Thai and foreign travellers, as well as improvements in the service sector, which is…

The government's relaxation of control measures on digital banks has paved the way for a broadened range of financial services offered by pure digital banks. Although the impact on traditional banks and digital wallet operators remains relatively…

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…

Following the pandemic, card lending, contributing to over 60% of consumer credit gross lending in Singapore, has witnessed significant growth, largely propelled by the enduring trend of revenge travel. The resumption of travel and tourism activities…

In 2021 and 2022, many local consumers used personal loans when faced with unplanned expenses or a personal financial emergency. Malaysian banks were very active in offering personal loans to individuals, providing flexible repayments and offering…

Japan currently does not have any law restrictions surrounding Buy Now Pay Later (BNPL) and thus the benefits, such as convenience, flexibility, and especially no credit checks, are gradually being understood by a wider consumer base. These benefits…

Consumer credit gross lending has experienced further strong growth in 2023, along similar lines to the previous year. The main factor behind this growth has been the improvement in economic conditions as a result of increased community mobility…

In 2023, card lending - driven by increasing credit card adoption in India - remained the dominant category within consumer credit in gross lending terms. The adoption of credit cards further increased during the year, primarily as consumers’…

Since the reopening of borders in the fourth quarter of 2022, there has been a significant increase in the desire of Hong Kong residents to travel abroad, following three years of pandemic-induced restrictions. Throughout 2023, there has been a…

Consumer credit is set to see a moderate rebound in 2023, following subdued demand in 2022, affected by the pandemic. The pick-up in consumer credit growth has largely been due to rises in home and card lending, reflecting some improvement in…

The global urban consumer landscape is increasingly complex and difficult to navigate. Which cities should you choose for your consumer business expansion? To answer this and other questions, we are introducing the Euromonitor International Cities…

Companies face numerous challenges in 2023 after recent record-breaking sales. They include weakened demand, high interest rates on debts, and tighter consumer credit conditions. Elevated inventory levels are also of concern.

Government forecasts indicate a positive GDP growth for Vietnam across 2023, with a gradual decline in the average monthly Consumer Price Index (CPI), which is a good sign regarding stabilisation of inflation. The government in Vietnam aims to keep…

The performance of consumer appliances in the Philippines towards the end of the review period was significantly affected by high inflation in 2022, with a slightly higher inflation rate projected for 2023 as a whole. This has dampened the growth…

Sales of consumer appliances continued to see steady growth in retail volume terms in 2023 boosted by new property development and fewer concerns about COVID-19. The government’s economic stimulus programme also encouraged consumers to go shopping…

In 2023, consumer appliances in Taiwan posted slower retail volume and value growth compared to the previous year, with sales negatively impacted by inflationary pressure, the slowdown in the local real estate market, and a spending shift from goods…