In Asia, one of the biggest megatrends is gaining momentum: consumption. While some investors might mistake it for a one- or two-year story, it’s a multi-decade opportunity, says Mirae Asset Global Investments. “This story still holds untapped potential due to a sustained trend for premiumisation, in addition to low penetration rate of goods and services in Asia”, says Joohee An, Senior Portfolio Manager at Mirae Asset.
Rapid changes in industrialisation and urbanisation, combined with rising wages, population growth and favourable demographics, have brought the emergence of a new consumer class with greater disposable income and purchasing power. Furthermore, the global pandemic has accelerated new consumption behaviours that are shaping up, offering investors an opportunity to tap into societal shifts such as digital adoption and high-end local brands, while companies become more globally competitive.
Read the full insight at Miraeasset.eu