Urbanisation and rising incomes further drive Asian consumption trend

The consumer markets of China, India and Indonesia have grown at year-on-year rates of 5.9% to 9.5%.

These rates are much higher than the 3% to 4% growth in the US and Europe. The future of global consumption growth lies within Asia, and an underlying driver of this growth is the trend towards consumption upgrades.  China: The future leaders of AI? Consumption upgrades happen when consumers are willing to pay higher prices for products, services and experiences that are of a higher quality or offer enhanced performance. Although most visible in China, where disposable income per capita has shot up by 42% in the last four years, this trend is seen across Asia. The trend is drive...