Despite the economic gloom that hurt us so bad in recent months, Department Stores around Asia were doing fairly okay compared to their Western counterparts. The people around Asia still want to look good and are known to be very trend-conscious. It is yet another sign that though the economic crisis was there, it did not affect Asia as much as it did in the West, people here still went out and bought stuff from supermarkets and department stores. Government help also made a big difference with Taiwan and Japan giving consumers extra "free" money and this definitely benefited the department stores. Asians care too much about their appearance at times. When the going get tough, Asians get going is very true indeed. When you are thinking to start a new business, you can be sure that Asia will be a great place to showcase your offerings, we are the region that is willing to spend the most both physically and also online as demonstrated by the VISA survey some months ago. Be sure that next time, something like this happens, Asia will be best equipped to avoid the devastation.
Source: http://www.scmp.com
Image: Matti Mattila
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