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Asian retail market 'remains important'

Australian firms still place great importance on retail activity across Asia.

Australian businesses continue to view Asian markets as extremely important to their ongoing expansion, despite a small fall in retail turnover in recent months.

Cushman & Wakefield's MarketBeat Retail Snapshot Asia Pacific for Q2 2012 has revealed a 2.4 per cent fall in retail turnover for firms operating in Asia during the three months to June, with sales in China, Singapore and South Korea all down.

The report noted: "With steady economic growth and increasing levels of consumption, the Chinese consumer remains an integral part of most retailers' globalisation strategies."

However, the news was not all bad, as the figures highlighted a 3.1 per cent rise in retail activity in Japan for Australian firms.

Earlier this month, the Australian Bureau of Statistics published its latest figures on retail spending across the country.

It reported a 0.8 per cent fall in retail turnover across Australia during July 2012, with the largest reduction (10.2 per cent) witnessed in the department stores sector.

Posted by Steve Douglas

- Asia, retail, China, Singapore, Korea, Japan

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