For Better Or Worse: How Asian Pacific Consumer Spending Is Evolving?
Around the world, consumers are growing increasingly optimistic about their financial wellbeing, particularly in developing markets throughout Asia-Pacific, Africa, Middle East
Consumers’ perceptions of their personal financial situations play a role in influencing their purchasing behavior. Due to changing aspirations or priorities, or reactively, due to factors such as inflation, consumers are proactively adapting their spending behaviors for fixed and discretionary expenses. In our recent webinar on this topic, we shared that the largest proportion of consumers in the Asia-Pacific region (46%) indicate that the amount they spend on groceries has increased over the past five years.
While consumers are often cost-conscious and look for bargains, they are willing to pay a premium for certain categories. Asian-Pacific consumers are most willing to pay a premium for personal electronics (49%).
For more insights, download our Changing Consumer Prosperity report. The following infographic is also available for the regions Europe, Latin America, Africa & the Middle East, North America and with a Global view.