Retail Industry In APAC - IT Market Assessment

24 November 2008, Pages – 11

The retail industry in APAC is the largest consumer market with a significant young population. The growth of middle class consumers is maximum. It is estimated that in 2008, youths (0-14 years) constituted 16.9% of the total population in China, while in India about 31.6% of the total population. The diverse cultures and socio-economic clusters in Asia Pacific, account for retailers to position at different price points. The preferences of customers are very different in each country of APAC. Understanding the customer needs will help retailers to position themselves competitively in the market.

The economic growth and urbanization has resulted in an increase in the income of middle class consumers. The consumers have sufficient disposable income and are frequently using credit cards for their purchases. In Asia Pacific region, the customer's attitude is changing toward money and now shopping is combined with status consciousness. There is increasing demand and opportunities for luxury retailing.

The report forecasts the IT spending of the Retail Industry in APAC over the period 2007-2013. It highlights the market trends, growth drivers, restraints and provides the IT spending & forecast of the Retail Industry in APAC. In addition, the report also discusses about the regulations that affect the IT spending of the Retail Industry in APAC.