Magazines Archives - 2008 December

Retailing in recession - Part 1: What’s in store for Asian retailers?
Story 1 - One Viewpoint

Recession. The US economy has all but officially declared it. Germany, the EU and Japan have formally announced they are in recession. A good many other economies are in the same quandary. The global credit and financial turmoil is no longer contained. A global economic recession is looming as Asian economies grit their teeth, anticipating the harsh impact. But Asian retailers are worried. Just how deep, how severe and how protracted will the impact be on the consumer market? Can a parallel be drawn to the devastation of the 1997-98 Asian financial meltdown? Will the same woes be unleashed? What scenarios await retailers this time? By Steven HL Goh

Steven HL Goh is the executive chairman of RETAIL ASIA. He is also the CEO of The Business Company, a consulting firm advising multinational retailers on retail strategies and business development opportunities in the Asia-Pacific.

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