However, even affluent markets such as Singapore and South Korea registered double-digit growth in private label consumption.
These were some of the findings outlined in The Nielsen Company’s first regional report on the media and marketing industry, Nielsen Asia-Pacific Media & Marketing Trends 2007.
These were some of the findings outlined in The Nielsen Company’s first regional report on the media and marketing industry, Nielsen Asia-Pacific Media & Marketing Trends 2007.
The study, the result of a joint effort between ACNielsen and Nielsen Media Research, presents three years’ worth of media and consumer spending trends across 12 markets. The booklet will be distributed exclusively to Nielsen clients to provide a single reference point. Based on the report findings, Lisa Lee, SVP of international communications, The Nielsen Company, said the region’s greatest potential for modern retail outlets is in India, Vietnam, second-tier cities in China, Indonesia and the Philippines. “These are all markets where the modern trade is relatively undeveloped,” she said.
However the report advises companies to pay close attention to market-specific retail interests, which result from differing paces of urbanisation. “Urban areas create the wealth and density of population to support larger modern retail stores, compared to rural areas. They also help enable easier supply chain logistics,” explained Lee.
In China, for instance, where only 43 per cent of the country lives in urban centres, the retail scene is still highly fragmented: the top 10 retailers account for only five per cent of the total market. Mini-markets see higher turnover than any other modern trade format.
Meanwhile, in Hong Kong, which is 100 per cent urbanised, convenience stores are still highly popular. The number of such stores grew by more than 10 per cent in 2006, representing the fourth consecutive year of double-digit growth.