KPMG
KPMG firms operate in 145 countries and territories, and in FY21, collectively employed more than 236,000 people, serving the needs of business, governments, public-sector agencies, not-for-profits and through KPMG firms' audit and assurance practices, the capital markets.
How retailers can turn inflation into an opportunity
How retailers can turn inflation into an opportunity
KPMG’s Head of Consumer & Retail for the ASPAC region, Anson Bailey, has suggested that the Asian retail industry can convert the ongoing inflation and economic challenges into an opportunity to reset its promotional strategies. In an interview with Retail Asia, Bailey revealed that the Gen Z consumer market of 600 million people in Asia presents immense opportunities for retailers. Bailey also mentioned the various challenges faced by the retail industry in the past year due to the COVID-19 pandemic, but he asserted that the future looks bright for the industry.
Gen Zs are becoming China’s biggest spenders
21% of these consumers are ready to spend 16% of their income on luxury.
Inflation offers an ‘excellent opportunity’ to reset promotional strategies: KPMG
Retailers can turn the current economic challenges into an opportunity to refocus their communications with customers, KPMG’s Anson Bailey says.
Customised, interactive experience key to attracting customers
Brands should offer personal touchpoints to customers, amongst others.
What could make shoppers switch to another luxury brand
Chinese consumers give emphasis on whether the brand is aligned with their identity.
Nearly 3 of 4 Chinese shoppers willing to switch to more sustainable brands
This is more common amongst younger consumers.
BNPL platforms risk losing trust by ignoring SFA Code of Conduct
Under the Code of Conduct, BNPL providers need to show customers their ‘Trustmark’.
Is Gen Z becoming the bigger spender in China?
They are rapidly becoming the largest consumer base for luxury brands, KPMG said.
Should Hong Kong’s brick-and-mortar retailers ride the e-commerce wave?
Surprisingly, retailers will need to cater more to the 62.1% of Hong Kongers who prefer to shop in-store.
Anson Bailey on key e-commerce trends that will influence businesses in Hong Kong
With consumer digital fluency levels rising higher, the new era of retail is just beginning, says KPMG’s Head of Technology and Consumer & Retail.
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