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In the first quarter of 2021, SSI Group, a leading luxury retailer in the Philippines, witnessed a significant drop in profits. The company reported a decrease of 58.5 per cent in net income to US$2.4 million (PHP$152.9 million), even though revenue increased…
The year 2026 is forecasted to observe a surge in market circulation during the Lunar New Year holiday in Thailand, with an estimated value of THB54.2 billion (US$1.75 billion). This anticipated figure would be the highest in six years, indicating an increase…
Sea Ltd, a Singapore-based conglomerate, has announced a significant increase in its sales and marketing expenditure during the third quarter. This resulted in a jump in revenue, but it also had a negative impact on profits. This increase in spending comes as…
Chinese retailers are capitalizing on the annual ‘Singles’ Day’ phenomenon by extending the sales event for up to five weeks. The sustained retail strategy is being deployed by industry giants Alibaba and JD as they strive to stimulate consumer interest…
Taiwan’s credit card payments sector is on the brink of substantial growth, projected to see an impressive 7% increase by 2025, reaching a staggering $156.2 billion (TWD 5 trillion), as evidenced by findings from GlobalData. This upward trajectory is…
China’s consumer market is shifting gears as it embarks on a journey defined by slower, single-digit growth and a more cautious spending landscape, according to the latest insights from McKinsey & Company. This transformative phase comes after a comprehensive…
Singapore’s banking landscape is undergoing a significant transformation, as hiring practices take a cautious turn in response to shifting economic realities. According to recruitment expert Ken Ong, managing director at Morgan McKinley’s Singapore…
Malaysians are savoring their culinary delights, with average annual food-at-home expenses hitting a notable US$1,940 per person in 2023, according to the U.S. Department of Agriculture (USDA). Following closely behind, Singaporeans spend about $1,831 per…
May Day Holiday Signals Mixed Results for Chinese Consumer Trends Chinese Consumer Confidence Tested Amid Growing Travel and Spending The recent May Day holiday has emerged as a significant indicator of consumer sentiment in China, showcasing a blend of…
Australia’s Credit Card Market on Track for Significant Growth, Expected to Reach $299.7 Billion by 2025 Australia’s credit and charge card payments sector is poised for robust expansion, with projections indicating a surge to $299.7 billion (AUD 453.9…
Young entrepreneurs looking to start a coffee shop should be aware that customers are increasingly reluctant to spend over VND100,000 ($4) on a cup of coffee, opting instead for more affordable alternatives. I used to visit coffee shops regularly, but in…
Spending on global public cloud services is projected to reach $332.3 billion in 2021, increasing by 23.1% from $270 billion in 2020. According to Gartner, growth in cloud spending can be attributed to increased adoption in technologies such as…
Jeff Meng, a 25-year-old watch lover from a well-heeled Guangdong family, had US$22,800 burning a hole in his pocket. He could not find the Rolex Daytona watch he wanted, dubbed “panda” for its black-and-white face, anywhere in China. Thanks to the…
A report into spending habits in South East Asia suggests that internet shopping numbers will see a huge surge in the next few years. Overall, it is expected that the amount of money spent online here will triple by the year 2025. The facts and figures This…
New research shows the total transaction value of online remote payments for digital and physical goods will exceed US$6 trillion by 2024. The new findings are based on data from Juniper Research that predict the growth of 53 percent in the transaction values…
Five destinations attract 22 per cent of all international traveller arrivals in Asia Pacific and a quarter of travel spend in the region, according to a new Mastercard report. Asia Pacific’s five most popular destinations for international travellers –…
