In 2016, Asia Pacific’s top 500 retailers recorded total sales of 940 billion dollars, an increase of five per cent on the previous year.

Despite slowing growth in China and Japan, south-east Asian economies performed well in 2016 with many retailers in India, Indonesia, Philippines and Vietnam experienced double-digit sales growth.

Asia Pacific also continues to lead the digital commerce market. In 2016, mobile retailing sales totaled 328 billion dollars, an increase of 64 per cent and in China, Indonesia and South Korea, mobile commerce accounted for over 50 per cent of total digital commerce.

The Asia Pacific region contains more than half of the world’s population and is a major contributor to the global economy with extensive trading and collaboration with the rest of the world. In recent years, a significant share of global economic output and growth has concentrated in large cities in the Asia Pacific region. The region is highly dynamic, with rapid growth and urbanisation.

Asia Pacific includes parts of north Asia, south Asia, east Asia, west Asia, central Asia, south east Asia, Oceania and the Americas.

Retail sales growth for the period 2010-2016 outstripped every other region, turning in a compound annual growth rate of 13.6 per cent.