Asia-Pacific Trends to Watch in 2024

Retail Optimism in China, the AI Revolution, and Metaverse Back in the Spotlight

Report by Man-Chung Cheung  | Dec 5, 2023
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Table of Contents
Underperforming retail will rebound in China after a disappointing start
More major foreign brands will lay roots in India’s burgeoning retail market
TikTok’s social commerce business in Southeast Asia faces a pivotal year
China puts a spotlight on AI as it plays catch-up with the US
Asia-Pacific offers the metaverse a second life
Sources
Media Gallery
About This Report
Some stability will finally emerge in Asia-Pacific’s retail sector after several years of disruption from the pandemic. But the market and businesses will be unsettled, beset by a new wave of technological disruption from AI, the metaverse, and more.
Topics
Retail Sales
Asia-Pacific
Table of Contents
Underperforming retail will rebound in China after a disappointing start
More major foreign brands will lay roots in India’s burgeoning retail market
TikTok’s social commerce business in Southeast Asia faces a pivotal year
China puts a spotlight on AI as it plays catch-up with the US
Asia-Pacific offers the metaverse a second life
Sources
Media Gallery

After a shaky start following the end of pandemic restrictions, retail sales growth in China will show signs of life as India’s retail sector heats up. In Southeast Asia, TikTok will have to flex its innovation chops to tackle growing headwinds. And among all the tectonic shifts, the biggest will be the emergence of AI.

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Table of Contents

  1. Underperforming retail will rebound in China after a disappointing start
  2. More major foreign brands will lay roots in India’s burgeoning retail market
  3. TikTok’s social commerce business in Southeast Asia faces a pivotal year
  1. China puts a spotlight on AI as it plays catch-up with the US
  2. Asia-Pacific offers the metaverse a second life
  3. Sources
  1. Media Gallery

Charts in This Report

Total Retail Sales in China, 2022-2026 (trillions and % change)Total Retail Sales in India, 2023-2027 (trillions and % change)
TikTok Users in Southeast Asia, by Country, 2023-2027 (millions)Large Language Model* Releases Worldwide, 2019-2023
Metaverse Revenues* in Japan, 2021-2027 (billions of ¥ and % change)

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authors

Man-Chung Cheung

Contributors

Jennifer Merritt
Vice President, Content
Jennifer Pearson
VP, Research