Magazines Archives - 2011 October

Holiday shopping fazed by global economic malaise
Part 1: Domestic demand will be key to Asian economies and therefore Asian retailing this year
Story 1 - One Viewpoint

The all-important year-end holiday shopping season this year appears to be beset by uncertainty. The blame falls squarely on the floundering global economy and its spectre of a double-dip recession. Asian economies are worried — as they are still generally export-driven and depend on the developed economies of the West, whose consumption power is not expected to be bullish this holiday shopping season. Therefore, the key factor for Asian economies this year-end would be domestic demand. How strong is the domestic demand across Asia’s major consumer markets? Does it have what it takes to keep cash registers ringing for Asian retailers — and to bring some cheers to sales turnover?

by Steven HL Goh

Steven HL Goh is the executive chairman of RETAIL ASIA. He is also CEO of The Business Company, a consulting firm advising multinational retailers on retail strategies and business development opportunities in the Asia-Pacific.

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