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Retail Market plays an important role in our life because we get what we want. But here are some interesting fact that you should know about the Asia's largest Retail Market.Retailers
are entering Asia with many advantages especially with developed markets that
are dealing with faltering growth, falling consumer confidence and saturated
markets. Asian market remains the main engine in global retail growth. Here are the lists of countries with most sales according to the '2012 Outlook for the Retail and Consumer Products
Sector in Asia' (determined by USD)
1) China:
As being one of the most populated country in the world China's retail market is growing exponentially.
China leads the list with sales of $3,251,134 million for 2012.
Retail Sales in China increased 14.20 percent in September of 2012 over the same month in the previous year.Well connected and with the
growth of online retailing, it brings enormous benefits to the retail
companies and industry players. Also china’s consumer expenditure on
food, beverages and tobacco will more than double in 2011-15, reaching
$1.4 trillion.Here is the 'retail sales of China year over year(YOY):
2) Japan:
Japan is still the 2nd biggest retail market in Asia with over 127
million consumers that appreciate high quality and
excellent service. Japan is also the nation with highest demand of food imports worldwide.
It has the lowest self-sufficiency rate (41% only) among the G8
countries.Also, Japan consumes nearly 40% of all luxury goods sold worldwide every
year. Almost 90% of Japanese females above age 18 own one or more
high-brand luxury handbag.Japan is the 2nd largest with a retail sales of $1,702,981million for 2012 eventhough they faced major Earthquake for many years. Here is the retail sales of Japan YOY(year over year):
3) India:
Indian Retail industry, being the 5th largest in the world and 3rd largest among Asian Market, is one of the
sunrise sectors with huge growth potential and accounts for 14-15% of
the country’s GDP. A new study by Fitch reveals
that the Indian shopper has a high desire for inspiration; 69 percent of
Indians want to be inspired when they shop. Retail sales of India is amounted to $868,917 million in 2012. Here is the Consumer spending or Consumer consumption or expenditure of India :
After India, 4th most largest retail market country in Asia is Indonesia with retail sales of $379,188 million. The Indonesian Retail Report examines the long-term potential of the
local consumer market, but flags short-term concerns about the impact on
Indonesia’s economic outlook of rising prices in the domestic arena. Urban areas will remain the
focus of retail activity. Several multinationals are setting up shop in
Indonesia such as France’s Carrefour, which means competition with the
local players will be fierce. The country will expect a growth of 4.8
percent in the next three years.
Now let us see the retail sales of Indonesia YOY(year over year):
5) South Korea:
South Korea, officially the Republic of Korea is ranked 5th most largest retail market in Asia after slight dip in Retail growth during May-September 2012. Retail sales this year was $266,851 million
and is expected to grow to around $318.57 billion by 2015. In the next
three years, competition in the hypermarket sector will remain intense
and the retail market will continue to grow.
Here is the Retail sales of South Korea YOY(year over year):
Australia ranks 6th largest retail market in Asia after retail sales were unexpectedly declined in July2012 the highest fall since October2010. The retail figures reflect the worst month for department-
store sales in seven years and increasing concern about job
security as Europe darkens the global outlook. Anyways, this year, the
country recorded $246,729 million in terms of retail sales. Halloween has seen a boost in
sales in Australia, and with product launches, including Apple’s new
iPhone 5 and iPad mini, would be important
drivers of sales growth into the Christmas period.
The retail sales graph of Australia for YOY(year over year) is represented as:
7) Thailand:
As being 20th most populous country in the world Thailand stands in as 7th most largest retail market in Asia. Thailand retail sector was generally positive in 2010 supported by the recovery of the economy and overall property market, but there was a unexpected dip during the month of November 2011 to January 2012 and later on the retail market growth were increased.Thailand’s consumer goods market will remain one of Southeast Asia’s most important, with retail sales of $125,881 million
this year and an estimated retail sales of $165.96 billion in 2015. As
foreign companies are not allowed to own land in Thailand, it is a
challenging market for foreign retailers.
The retail sales graph of Thailand is depicted as:
8) Taiwan:
The retail sales graph of Taiwan is represented as:
9) Philippines:
9) Philippines:
While retail saturation continues to grow in the Philippines, the
industry continues to offer market opportunities for new entrants and
for current players seeking to expand. Franchising is one of the fastest
growing sectors in the economy. The growing demand for new products and
services tells that there is plenty of room for new players. The retail sales of Philippines is $98,536 million this year thanks to the foreign retailers. The consumer spending graph of Philippines is:
10) Malaysia:
Most Malaysian retailers are not geared up to meet the challenges of the effects of globalization in Asian countries. With the Malaysian government
set to introduce a goods and service tax of 5 percent or less, this
could exert some upward pressure on overall retail prices. The country
accounted for $85,591 million of retail sales this year and ranked in as 10th largest Retail market in Asia.
The consumer spending graph of Malaysia is represented as:
