Future of retail: Conscious rich Asians look to lifecycle luxury

As shifting priorities alter long-held notions of luxury, TBWA\Singapore’s Belynda Sim looks at what will define 21st century premium in Asia.

The year 2020 saw APAC snagging the biggest share of luxury store openings: 38.9% compared to other regions. This figure exceeds APAC’s 31.8% share for the whole of 2019, according to real estate provider Savills.

Singapore has seen a similar trend to China where domestic spenders are coming out in full force to splurge.