The Asia-Pacific retail sector grew at a compound annual growth rate (CAGR) of 13.63 per cent from 2010 to 2016, mainly attributed to cross-border e-commerce, demographic changes and rising income in the region, according to a new report published by IDC Retail Insights.
“Asia-Pacific remains the most dynamic among country economies despite facing heightened uncertainty from a still weak global recovery, slowing global trade, and the short-term impact of China’s growth transition. This slowdown, however, was not seen in a transformative retail industry, where tech-enabled capabilities have brought stiffer competition between traditional and online retailers,” says Mike Ghasemi, Retail Insights Research Director, IDC Asia-Pacific.
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