Internet retailing giants’ growth slows

Asia Pacific’s top 500 retailers achieved more than $1 trillion sales in 2012.

But their growth rate of 5.4 per cent fell below the 11 per cent growth of a year earlier.

Euromonitor attributes the slowing growth rate to a weak greenback against a number of local currencies such as the Japanese yen.

Asia Pacific retailers also grappled with the ups and downs of the last decade due to the changing tastes of the increasingly sophisticated Asian consumer.

Euromonitor also found out that retailers across the region are turning to internet retailing to strengthen their market share.

Alibaba’s Tmall.com is found to be the Asia Pacific’s leading Internet retailer.

According to Geok Leng Loo, Euromonitor International head of research, more retailers are likely to make their debut in the internet retail market, including the number one player in direct selling, Amway China.

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