Merry Christmas in the East: The gift of Asian spending
All across Asia, whether in majority Buddhist, Muslim or Christian nations, Christmas trees are glowing atop their seasonal perch, usually at the gateways of malls and other commercial centres. Despite having relatively small Christian population (with the exception of South Korea and the Philippines), Asian nations have come to represent the epitome of contemporary Christmas commercialism, offsetting lower spending in crisis-rocked Europe.
By Justin Calderon
This is something to be thankful for. In Southeast Asia in particular, greater disposable incomes and a proclivity for passing the time in air-conditioned, convenient shopping centers has made the region a boon for this year’s holiday season spending.
Toys R Us Inc, the New Jersey-based toy retailer, posted losses in the third quarter due to year-on-year net sales that fell 3.4 per cent and a $29 million increase in interest payment expenses used to replace senior notes with other senior notes.
As Europe titers on the precipice of economic collapse and Japan continues to stagnant, Toys R Us and other major retailers expectant of larger holiday sales are finding solace in the emerging world instead.
“The challenging economic environment in Europe and Japan continues to have a negative impact on operating earnings on an international basis,” Jerry Storch, Chairman and CEO of Toys R Us, has stated to media.
“However, we are pleased with the strong momentum from our locations in China and Southeast Asia where positive performance is helping to offset this weakness,” he added.
Tesco, the UK multinational grocery and general merchandise retailer, has also noted high growth in the Asia region in the crucial Christmas period. Total sales from Asia made up 17 per cent of the group’s revenue last year, and have risen 5.1 per cent so far this year.
However, this large uptick may be the result of a rebounding Thailand in the period after the floods of 2011.
In Southeast Asia, where resilient economies have been safeguarded against the global downtown by consumer spending, especially in Indonesia, Malaysia and the Philippines, the holiday season and its allure of sales will further generate growth derived from the domestic market.
It is certainly a Merry Christmas in Asia.
[caption id="attachment_6095" align="alignleft" width="300"] Christmas shopping in Bangkok[/caption] All across Asia, whether in majority Buddhist, Muslim or Christian nations, Christmas trees are glowing atop their seasonal perch, usually at the gateways of malls and other commercial centres. Despite having relatively small Christian population (with the exception of South Korea and the Philippines), Asian nations have come to represent the epitome of contemporary Christmas commercialism, offsetting lower spending in crisis-rocked Europe. By Justin Calderon This is something to be thankful for. In Southeast Asia in particular, greater disposable incomes and a proclivity for passing the time in air-conditioned, convenient shopping centers...
All across Asia, whether in majority Buddhist, Muslim or Christian nations, Christmas trees are glowing atop their seasonal perch, usually at the gateways of malls and other commercial centres. Despite having relatively small Christian population (with the exception of South Korea and the Philippines), Asian nations have come to represent the epitome of contemporary Christmas commercialism, offsetting lower spending in crisis-rocked Europe.
By Justin Calderon
This is something to be thankful for. In Southeast Asia in particular, greater disposable incomes and a proclivity for passing the time in air-conditioned, convenient shopping centers has made the region a boon for this year’s holiday season spending.
Toys R Us Inc, the New Jersey-based toy retailer, posted losses in the third quarter due to year-on-year net sales that fell 3.4 per cent and a $29 million increase in interest payment expenses used to replace senior notes with other senior notes.
As Europe titers on the precipice of economic collapse and Japan continues to stagnant, Toys R Us and other major retailers expectant of larger holiday sales are finding solace in the emerging world instead.
“The challenging economic environment in Europe and Japan continues to have a negative impact on operating earnings on an international basis,” Jerry Storch, Chairman and CEO of Toys R Us, has stated to media.
“However, we are pleased with the strong momentum from our locations in China and Southeast Asia where positive performance is helping to offset this weakness,” he added.
Tesco, the UK multinational grocery and general merchandise retailer, has also noted high growth in the Asia region in the crucial Christmas period. Total sales from Asia made up 17 per cent of the group’s revenue last year, and have risen 5.1 per cent so far this year.
However, this large uptick may be the result of a rebounding Thailand in the period after the floods of 2011.
In Southeast Asia, where resilient economies have been safeguarded against the global downtown by consumer spending, especially in Indonesia, Malaysia and the Philippines, the holiday season and its allure of sales will further generate growth derived from the domestic market.
It is certainly a Merry Christmas in Asia.
