Asia’s consumer landscape is evolving in the following five dimensions, offering numerous opportunities to retailers to serve Asian consumers. 1, 30% of Asia’s advanced households are shrinking, promoting a “single economy” and changing the consumption scale of categories. 2, Due to women economic empowerment, consumption growth is anticipated to increase 30% by 2030. 3, The digital native generation generates 40% to 50% of Asia’s consumption via e-commerce channels. 4, 50% of Asian consumers prefer brands that sell ethically-sourced products and show concerns for climate change. 5, Asian consumers expect brands to offer customized services as 45% of Chinese, Indian and Thailand’s consumers share their data for personalization. Keeping in mind the above-mentioned dimensions, Asian retailers can redefine their growth map by strategically partnering with companies and relocating their resources.
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