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.
Nearly 66 percent of respondents in a survey conducted recently by Global Sources said they expect to increase purchasing during this period. A further 15 percent expect their purchasing quantities to remain unchanged, while the remaining 19 percent predict a decrease in sourcing volume.
The respondents were importers representing over USD900 billion in annual sales.
The survey also showed that 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.
"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."