Regional Spotlight: Vietnam, Indonesia and Philippines. Much of consumer electronics (CE) manufacturers’ attention on Asia Pacific is centered on China and India. In this article, Euromonitor International casts its eyes on the often overlooked countries like Vietnam, Indonesia and Philippines (VIPs) and assesses their potential to CE manufacturers.
As Western Europe and the U.S. are embroiled in economic woes, manufacturers are banking on Asia Pacific, notably China and India, as a catalyst for growth. The vast territory of Asia Pacific offers hidden gems for manufacturers and retailers, with consumers from Vietnam, Indonesia and Philippines also having the economic might to purchase electronic devices.
Consumer Electronics Global Overview: Growth Trends and Analysis. Consumer electronics sales rebounded from the global economic downturn in 2009 and showed strong and steady growth in 2010. The key growth driver is consumers’ insatiable appetite for connectivity – internet and mobile.
The Year of the Fiery or Subdued Dragon? Lunar New Year and Consumers. Asian consumers, particularly, like to travel during the Lunar New Year due to the long holiday period they get from work. The package tour is a perennial favourite. However, the emphasis on sightseeing is diminishing to give way to shopping time. Trends in festive snacks come and go, but among those that have stood the test of time are roasted nuts, especially cashews and pistachios (due to the representation of smiley faces) and candies (sweet is synonymous with happiness). The chart below depicts holiday spending trends in China and Taiwan.
The Power of Multivitamins to Prevent Diseases. Fears of getting sick benefit multivitamin sales in some countries. See the chart below.