Shopper traffic in the Asia-Pacific region can be considered steady in Q3, with an upbeat outlook for Q4. Although footfall dropped from +0.5% Year-on-Year in Q2 to -0.1% in Q3, generally the region is in good health.
Two out of the five countries we surveyed achieved traffic growth, with dips in Australia and China, and India was uncharacteristically flat.
The star performer was Hong Kong with a +3.2% YOY increase in shopper visits during Q3 thanks to a stock market boom and rising property prices. In July, Hong Kong retail sales grew at their fastest rate in more than two years, official figures show, and consumer confidence is high.
Heading into Q4 there is every reason for the APAC region to be optimistic. With ambitious new retail developments planned in many of these countries, and the Golden Week peak trading event in China in early October, there are ever more reasons for shoppers to head into stores.
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