The gloom has finally descended upon Asia’s economic performance, with second-quarter GDP figures plummeting and inflation hitting multi-year highs. It was a jolting realisation of the prospect of a downturn from what had been five straight years of robust economic growth across the region.

Going forward, Asian economies face risks and uncertainties, and consumers are less confident and more guarded. These would obviously have adverse impact on Asian retailing. Questions on discretionary spending power and propensity to shop are raised. Industry experts, thankfully, offer some hope in this otherwise dismal scenario. by Steven HL Goh