Uncover the consumer and sales trends dominating the APAC region in 2023, and know which strategies are crucial for success as a new market entrant or established regional player. Our experts share data-backed insights on the economic outlook for key markets, and how you can maximize your success in context.
Regional Outlook 2023: APAC
APAC is set to achieve the highest aggregated GDP growth rate of any region; India and China alone will contribute half of the global growth in 2023. While opportunities abound, a one-size-fits-all strategy will not work to increase T&D growth. Brands need to understand the complex route to premiumization and sustainable profitability, and much more, to expand in APAC.
Regional Outlook 2023: China Mainland
High inflation and a weakening economy could have an impact on growth in China in 2023 and beyond. Significant technological innovation will be the most important factor to dominate the development of China’s T&D industry going forward. Adopting the spirit of “Go Global, Win Local” will help brands achieve success.
Regional Outlook 2023: Taiwan
Despite a tough 2023, opportunities exist for Tech and Durables manufacturers and retailers who meet consumers’ demands for products and features that make their lives more convenient, and comfortable. Winnie Kung, Commercial Director Taiwan at GfK, shares how brands can capitalize on this, and the continued rise of Premium to boost growth.
Regional Outlook 2023: Korea
Spot opportunities in a mature market, characterized by savvy consumers who are quick to adopt new technologies and trends. Kwangsoo In, Global Key Account Manager Korea at GfK, shares one example: how the growing importance of color and design in electronics is buoying a Tech and Durables sector seemingly faced with no significant upsize potential.
Regional Outlook 2023: Japan
While product supply has stabilized and average prices are rising again, the high cost of energy is affecting disposable income in the region. Japanese consumers are still spending but with discernment and preference for high quality and longevity, even if it does come at a premium. Brands that focus on quality perception and positive brand experience will capture this market.
Regional Outlook 2023: India
Growth opportunities abound for companies hoping to enter or expand in India, with consumers enjoying increased household income, a positive attitude towards spending, and the fast penetration of technology. Mohit Bhalla, Commercial Director India GfK, shares how gfkconsult can help brands take full advantage.
Master the 2023 APAC Tech and Durables market
Discover the latest insights and strategic direction for omnichannel strategies, brand strength, and GenZ behavior in APAC with gfkconsult’s Regional Report.
