HONG KONG, Aug. 29, 2012 /PRNewswire-Asia/ -- The world's leading retailers and brands are optimistic about their purchasing outlook for the second half of 2012, despite growing challenges in the international trade arena. This is according to a survey of 26 top importers conducted by Global Sources (NASDAQ: GSOL) in July 2012.
Surveyed companies include major global retailers such as El Corte Ingles, Intelbras, and OfficeMax, representing over US$900 billion in aggregate annual revenue.
Nearly 66 percent of respondents anticipate an increase in overall order volume from the previous year. A further 15 percent expect their purchasing quantities to remain unchanged. The remaining 19 percent predict a decrease in sourcing volume.
Export prices, consumer spending top concerns
Higher export prices in mainland China were cited by 85 percent of respondents as one of the top three challenges they are currently facing. Close to 60 percent of buyers see cautious consumer spending as their second biggest challenge. The appreciating yuan is of lesser concern, with about 38 percent of respondents saying this is a major issue.
A Business Development Manager from Intelbras said, "At this point in time, our target market demands more competitively priced goods. Therefore, to maintain our competitiveness, we must be cautious about suppliers' rising costs."
"Facing more restricted consumer spending, buyers are eagerly looking for channels to help streamline costs," said Global Sources' CEO, Spenser Au. "This is also the reason why more and more buyers decide to join Private Sourcing Events -- a platform that enables them to meet, compare and evaluate several suppliers in a single day."
In the months ahead, buyers still exhibit confidence in overseas markets, particularly from mainland China. Over 80 percent of respondents expect to maintain or increase their import volume.
Globally-recognized retailers and brands attended Private Sourcing Events
Global Sources actively works with worldwide renowned retailers. In the first half of 2012 alone, 880 face-to-face meetings were arranged for preeminent buyers with pre-screened suppliers from across Asia through 30-plus events. Big brands who participated included Amazon.com, Casino, Coppel, Dollar General, Future Group, Gloria Jeans, Groupe Zannier, Kesa Electricals, Kingfisher, Liverpool, LPP S.A., Metro, Sodimac, Stockmann and WH Smith, with a combined annual sales volume of more than US$950 billion.
On May 30, 2012, sourcing teams from eight reputable retailers in Canada, Germany, Mexico, and the US gathered in Shenzhen to meet verified suppliers of mobile phone accessories, with combined annual sales volume of over US$75 billion.
Specialized Global Sources websites, face-to-face events, trade magazines and research reports
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China.
The core business facilitates trade between Asia and the world using English-language media such as online marketplaces (http://www.globalsources.com), print and digital magazines, sourcing research reports, private sourcing events, trade shows, and online sourcing fairs.
Over 1.18 million international buyers, including 90 of the world's top 100 retailers, use these services to obtain product and company information to help them source more profitably from overseas supply markets. These services also provide suppliers with integrated marketing solutions to build corporate image, generate sales leads and win orders from buyers in more than 240 countries and territories.
Global Sources' other businesses provides Chinese-language media to companies selling to and within Greater China. These services include online web sites, print and digital magazines, seminars and trade shows. In mainland China, Global Sources has a network of more than 30 office locations and a community of over 4 million registered online users and magazine readers of its Chinese-language media.
Now in its fifth decade, Global Sources has been publicly listed on the NASDAQ since 2000.